Sections

Pensionskassen growth stagnates - GDV

GERMANY - Germans remain cautious about investing money long-term despite good economic development, the association of German insurers (GDV) has found.

The number of new contracts with Pensionskassen and Pensionsfonds, two vehicles of occupational pension provision, will pass the €8m mark again, similar to the €8.5m reported for last year despite a much improved economic situation.

"The remaining uncertainty, despite a drop in the jobless rate, means people are still reluctant to commit to retirement provision," the GDV noted in its nine-months interim report for 2007.

However, Germans are still very interested in the Riester-Rente, a government-subsidised private pension modelled on life insurance products, suggests the association.

Approximately 2.4 million new contracts have alredy been sold so far this year compared to 2.5 million for the whole of last year.

If you have any comments you would like to add to this or any other story, contact Barbara Ottawa on +44 (0)20 7261 4618 or email barbara.ottawa@ipe.com

Have your say

You must sign in to make a comment

IPE QUEST

Your first step in manager selection...

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

  • QN-2467

    Asset class: Search for a broker (mainly ETFs).
    Asset region: Global.
    Size: 250m.
    Closing date: 2018-08-28.

  • DS-2468

    Closing date: 2018-08-24.

Begin Your Search Here