Commentary: Pension hype - why you shouldn't jump in just now
The financial industry is pressuring to now focus on the retirement savings account. But it's not about being the first to have one. Something else is crucial.
The pension fund is a celebration for banks and financial service providers, as well as the advertising industry. Various companies proudly advertise their pension fund products with clever slogans like "Who rakes, rusts" on billboards, online, and in television commercials. Exclaiming to people in this country that something new is coming for their pension is right and important.
The pension fund's promotion, which can amount to up to 540 euros per person per year, is what former federal finance minister Christian Lindner called a "Gamechanger in the retirement savings." It will bring millions of people for the first time in their lives into contact with the stock market, and that is good. No day passes without a new product for the pension fund appearing on the market.
A standard state product is also expected to be offered by the federal government within the coming year. The institution offering this product remains entirely unclear. All this shows that it is still too early to reach a final judgment on which product is best suited for which customer group.
Written by urgent.news from Handelsblatt's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
