*Note: Since the linked article was published, a draft law on pensions was revealed, which the BVI welcomed. Read here.
German asset management leaders want to ramp up the contribution of the industry to the country’s private pension system, via occupational pension schemes, our recent Frankfurt roundtable suggested.
Thomas Richter (pictured), the CEO of the German investment funds trade body BVI, expressed dissatisfaction with the size of the contribution that comes from company pension schemes into people’s retirement income in the country.
“Only around 6% of retirement income comes from company pension schemes in Germany. That is really puny and far too little for a heavily industrialised country like Germany,” said Richter.
The BVI chief was speaking at a Funds Europe discussion held in Frankfurt during the summer, which also featured senior figures from some of Germany’s largest asset managers.
Despite dissatisfaction at the size of the role played by company pension schemes, Richter pointed out that the German asset management industry managed some €4,300 billion in assets, making it the largest fund market in Europe and much of this is from some form of retirement provision, either from pension schemes or insurance companies.
Read more here.
