mast image

Special Report

Impact investing


Erste: Only 8% of Austrians see pension funds as 'ideal' retirement vehicle

Related images

  • Erste: Only 8% of Austrians see pension funds as 'ideal' retirement vehicle

AUSTRIA - More than half of Austrians no longer believe the state pension will suffice when they reach old age, but faith in second-pillar pensions is even weaker, a poll commissioned by Austrian banking group Erste has found.

One-third of those 1,000 Austrians between the ages of 25 and 60 polled in March said they were convinced the state would be unable to provide for their retirement, while another 22% said the provision would "most likely" be insufficient.

However, 38% said they confident when it came to the state pension system, Erste said.

The group said the 84% who believe private supplementary retirement provision is extremely important or rather important most often turn to third-pillar pension products - be they state-subsidised (preferred by 41%) or not (35%).

The majority, however, still believes in classic saving schemes like life insurance (43%), savings contracts with a building society (38%), real estate (35%) or savings books (25%).

Second-pillar pension schemes (8%) and securities (8%) were ranked at the very bottom of retirement vehicles considered as "ideal" by respondents to the survey.

Have your say

You must sign in to make a comment


Your first step in manager selection...

IPE Quest is a manager search facility that connects institutional investors and asset managers.

  • QN-2543

    Asset class: Search of an Asset manager / Advisor managing / Advising a risk-based equity derivatives overlay program.
    Asset region: Global Developed Markets Equities, Global Emerging Markets Equities, Swiss Equities.
    Size: CHF 700-2100 million.
    Closing date: 2019-06-17.

  • QN-2544

    Asset class: Transitional Real Estate Debt.
    Asset region: North America (USA/Canada).
    Size: $50-100mn.
    Closing date: 2019-06-17.

  • QN-2546

    Asset class: Real Estate Equity Fund (non listed).
    Asset region: Europe.
    Size: Total CHF 600m, approx. CHF 100-300m per fund investment.
    Closing date: 2019-06-28.

Begin Your Search Here