Auswirkungen der finanzkrise auf die private altersvorsorge

Translated title of the contribution: Effects of financial crisis on the private pension schemes

Axel Börsch-Supan, Martin Gasche, Michael Ziegelmeyer

Research output: Contribution to journalArticlepeer-review

8 Scopus citations


This study aims at estimating the losses in old-age wealth and forfeited returns. The analysis is based on the German SAVE study in 2008. In comparison to a scenario without the crisis individuals on average lost 4.3% of their financial wealth. Considering only wealth in investment classes specific for old-age provision the average loss is 2%. Comparing wealth losses at retirement entry reveals that the rates of return of cohorts born between 1940 and 1990 decreased by around 0.1 percentage points (old-age provision wealth) or 0.2 percentage points (financial wealth), respectively.

Translated title of the contributionEffects of financial crisis on the private pension schemes
Original languageGerman
Pages (from-to)383-406
Number of pages24
JournalPerspektiven der Wirtschaftspolitik
Issue number4
StatePublished - Nov 2010
Externally publishedYes


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