stock for retirement? In the case of many Germans, this is frowned upon positively: As you can well go to the Casino, you think. And yet, the discussion of the shares ferments the participation of the Germans for months – until last week, both major candidates have the CDU presidency to take account of the share in the pension. And rightly so.

Patrick Bernau

editor responsible for the economy and the “money & More” the Frankfurt General Sunday newspaper.

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It is the great Paradox of German: on the one Hand fret about the shareholders out of their investments in companies high profits for decades to grow, share prices, despite temporary setbacks in Germany faster than wages. On the other hand, many do not want to participate themselves in this Win – because they have somehow come to the assumption that shares would be nothing for you. “Investment is only for Rich” – so many Germans, and that is your main say reason not to get more involved in the capital market, such as the Frankfurt Finance Professor Andreas Hackethal in a survey has identified.

The pension coming to their limit

This attitude has not helped the Germans in the last few years. Although you save a total of harder than almost all other Europeans, but all the money is in savings accounts, money market accounts, and life insurance – louder-money systems, which Essentially depend on the interest rates. So no assets is increasingly. Most of the other Europeans, the better. Your Savings will bring more return, and so it is that even the Italians and Spaniards have greater assets than the Germans.

The Problem, however, is becoming more pressing. In about ten years the baby boomers begin to retire, the state pension funds reach the end of your load. If the contributions are not supposed to get into the Immeasurable, must work the Germans for longer, or the statutory pensions must be reduced. There’s a gap, which can be used with ordinary returns from the money Saved reasonably close, if only more German Savings with annual yields would have. This is the a side.

On the other hand, the capital gains in Germany to grow in the coming decades. Digitisation and perhaps also globalization Economists assume that the economy is divided in two: in successful companies with high wages and even higher profits on the one hand, and on the other hand, in the outdated companies that can only pay limited high wages. A machines expensive in the discussion. In contrast, the Consideration of Economists such as Jens Südekum is: If the workers from the outset in the profits of the corporations must not be redistributed the money afterwards is troublesome – it would be the gentler and more elegant solution.

How to get the German to share?

the speech, it is rare that workers get shares in the company in which you work. No one believes that the retirement of the car-a skilled worker should depend on the success of a car group. In the worst case, he would then take his place and companies have shares that are barely worth anything. Instead, many experts think about funds, the pooling of the stocks of many companies – be it from a company in Germany or around the world.

This article is from the Frankfurter Allgemeine Sunday newspaper

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Now, the idea is not entirely new. Already 16 years ago, the then red tried the-green Federal government, to bring the Germans by means of tax breaks and state subsidies in the private pension. “Riester-pension” was the name of the project, and it has not ignited properly. Today, every fourth German has a maximum of a Riester contract. The reason is that many poor people would have enough money to save, it is often said that. Is that true?