Zufriedenheit mit der Altersvorsorge und Präferenzen für alternative Sicherungsmodelle: empirische Analysen mit dem Sozio-oekonomischen Panel (SOEP)

Using data from the German Socio-Economic Panel Study 2002, we show that satisfaction with the German public pension system is significantly lower in the younger generation. This effect is independent from the individual economic situation and cannot be observed in earlier years. Whereas long periods of full time employment increase satisfaction with old-age security, unemployment has a significant negative impact. In spite of being rather discontented with old-age security, large parts of the population are mistrustful of a more comprehensive privatization of old-age pensions. In general, the dissatisfied tend to prefer a state-organized old-age security. Most respondents consider state subsidies to be important for private old-age security. However, the incentives do not seem to be suitable for broader implementation of private provision.