Most employed people in Germany say they feel positive about their overall well-being, but confidence collapses when it comes to retirement planning, according to a new survey.
A poll of 2,200 workers found 71 percent rated their general well-being positively.
Yet only 36 percent said the same about their financial well-being, and just 19 percent believe their savings will be enough to cover retirement.
Women and those nearing retirement age expressed the greatest concerns.
The Federal Statistical Office reports women’s pension income averages 36.9 percent less than men’s. Nearly half of women surveyed said they have less than €5,000 in savings or no reserves at all, and 56 percent rely solely on the statutory pension or have no retirement plan.
The survey showed 83 percent of respondents consider the pension system too complex and want reforms. The same share doubts the state will be able to pay promised pensions in the long term.