Private pension plans in the low-income sphere

Abstract

"It has been shown that participation in the "third pillar" of provisions for old age is socially strongly selective, at least in the variants examined below: - According to our data, every second person in Germany, who is themselves or whose partner is at least 40-years-old, pays into a retirement benefit scheme (subsidized or unsubsidized). - Of those with a low income and without means-tested unemployment benefit (ALG II) it is every third person. - Of those drawing means-tested unemployment benefit (ALG II) it is only every sixth person. Here the administrative effects of Book II of the Social Code (SGB II) only play a minor role: most of those persons drawing means-tested unemployment benefit did not need to 'dissolve savings' but had never ever put anything aside for old age. Why persons drawing means-tested unemployment benefit (ALG II) make private provisions for old age less often than those receiving low incomes outside benefit receipt could not be completely clarified on the basis of our data. - And: If at all, it is usually persons receiving means-tested unemployment benefit who are fairly young, eastern German, non-immigrant, more educated, in employment for a long time, home-owning or living with children in their household that undertake private provisions for old age." (Author's abstract, IAB-Doku)

Cite article

Wübbeke, C. (2013): Private Altersvorsorge im Niedrigeinkommensbereich. In: Deutscher Sozialgerichtstag e.V. (Hrsg.) (2013): Sozialrecht - Tradition und Zukunft: 4. Deutscher Sozialgerichtstag, 15. und 16. November 2012 in Potsdam, p. 211-220.