How 20 to 45-year-olds look at their retirement
The following topics were examined in a representative survey of 20 to 45-year-olds for GDV - German Insurance Association:
- Relevance and attitudes towards retirement provision
- Relevant factors for the choice of retirement provision
- Information behavior regarding old-age provision
The key findings are:
- Gen Z - especially if they are already working - is similarly financially savvy and interested in the topic of retirement provision as Gen Y. They are prepared to actively address the topic of retirement provision and compare different offers and forms of investment.
- Compared to the older age groups, Gen Z is (still) somewhat more optimistic about the state pension, but is also critical of its adequacy.
- Although Gen Z is not fundamentally different from Gen Y when it comes to retirement provision, there are some differences: flexibility and sustainability are slightly more important as selection criteria; social media and comparison portals are also more relevant as sources of information for financial issues than in Gen Y.