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Financial literacy and private old-age provision

Mannheim, 2009

The big losses of some investments during the financial crisis have roused a lively debate over risks related to privately funded old-age provisions and estimations con-cerning the losses of returns. Axel Börsch-Supan, Martin Gasche and Michael Ziegelmeyer investigate the effects of the financial crisis on private old-age provision and who is strongly affected. Their conclusion: Privately funded old-age provision is much less affected by the financial crisis in Germany than generally argued.

Financial literacy and private old-age provision

Mannheim, 2009

Private old-age provision is growing increasingly important in times of demographic change and mounting strains on the public pension system. For many individuals in Germany the “need” to save for old-age in addition to the state pension is new and households seem to face difficulties saving for old age due to the high complexity and the large variety of old-age savings contracts. Therefore, it is important to evaluate who saves and who does not and whether this decision is related to financial knowledge of individuals. more

Discussion Papers

Policy Briefs