Private old-age provision: Efforts vary widely

Frankfurt When it comes to private provision, the savings efforts vary greatly. This is borne out by the results of a survey conducted by the market research institute “Heute und Morgen” on behalf of the Ergo insurance company in spring among 3,200 people in Germany. The results of the risk report will be presented on Tuesday.

Those who make private provisions then save an average of 271 euros a month. Households with a low net income of less than 1,500 euros a month find it difficult to save, so that more than a third of this group does not prepare themselves financially for old age.

Fund savings plans are a popular option for private provision. Union Investment is one of the major providers. According to its own statements, the fund company of the cooperative banking association had around 3.8 million such savings plans, into which an average of 173 euros are paid each month, mainly in equity and mixed funds. The savings bank organization Deka even reports over 7.3 million such savings projects with an average rate of around 100 euros.