Financial Crisis, Confidence in Financial Markets and Participation in Private Pension Plans in Germany
Ulrich Brandt,
Dagmar Zanker,
Dina Frommert
Abstract:The financial crisis of 2008/2009 has not only left its mark on the value of retirement savings, but also on savings and investment behaviour. It has led to a loss of confidence in financial markets and its main protagonists. However, trust is a key mechanism for savings and investment decisions. We illustrate the loss of trust by looking at the number of pension plans purchased in the years following the financial crisis.
The paper is based on data of the study on ‘Life courses and old-age provisions’ (LeA, L… Show more
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