Retirees in germany satisfied – but with worries about the future

Only 15 percent of citizens have confidence that their pensions will be secure in the medium and long term, according to an allensbach survey commissioned by the employer-affiliated new social market economy initiative and presented in berlin on monday. 79 percent have doubts about this.

Most respondents also expect pension contributions to increase. 71 percent expect contributions to increase in the coming years. 2014 it was only 69 percent.

Of those who are still working and not yet living on a pension, 53 percent believe that they will only be able to manage their financial resources in old age if they lead a frugal lifestyle. 12 percent even fear that their age income will not be sufficient to make a living from their own resources.

30 percent are optimistic that they will have no financial worries in old age. In western germany, one in three is convinced that they will have no financial worries in old age; in eastern germany, the figure is only 17 percent.

Many of today’s pensioners see their situation as satisfactory. 57 percent are satisfied, compared with only 45 percent in 2009. The percentage of those who are only satisfied with a few restrictions has fallen from 35 to 27 percent, while the number of those who are completely dissatisfied has dropped from 17 to 12 percent.

41 percent of retirees expect their pensions to rise in the next few years – only 7 percent expect their salaries to fall. 44 percent expect no significant change in their pension benefits.

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