Germans exhibit minimal trust in their statutory pension system, with the vast majority doubting it will maintain their living standards in retirement, according to a recent survey. The pension survey, commissioned by the Social Association Germany (SoVD) and exclusively reported by "Bild am Sonntag," found that 82 percent of respondents do not believe their statutory pension will be sufficient to secure their standard of living in old age. Only 11 percent expected their pension to be adequate.
The survey was conducted by the polling institute Civey for the Social Association. According to "BamS," 2,500 people aged 18 and over were surveyed. Retirees, civil servants, and self-employed individuals did not participate in the survey.
As "Bild am Sonntag" further reports, a majority of 54 percent in the Civey survey stated they had too little money available for sufficient private provision. Only 30 percent consider their financial resources adequate to save privately for retirement. According to the report, 87 percent of respondents supported the idea that civil servants should also pay into the statutory pension insurance.
Social Association chairwoman Michaela Engelmeier (SPD) criticized in "BamS" that the statutory pension is being "deliberately talked down." She noted it has proven stable especially during times of crisis. "I expect from the federal government that it does not fuel uncertainty," Engelmeier said. A reliable pension is ultimately "central to trust in the state."
Since many people cannot afford private retirement provision, the pension must be restructured into an "employment insurance system, into which everyone, including civil servants, self-employed people and members of parliament, pays," the association chairwoman demanded.
Federal Chancellor Friedrich Merz (CDU) had said last Monday at an event of the banking association that the pension could in future "at best still be the basic safeguard for old age." The Chancellor faced partly sharp criticism for this statement. On Saturday, the CDU leader clarified in a speech at the federal meeting of the Christian Democratic Employees' Association of Germany in Marburg that there will be "no cuts" to the statutory pension.
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