Translation of "Private vorsorge" in English

In contrast, occupational and private pension funds have lost millions of euro on the stock exchange.

A key area of private provision is retirement pensions.

Private pension schemes also play an important role in Germany.

For many people, an additional private pension contract will therefore be indispensable.

Every fourth respondent is of the opinion that personal provision should be obligatory.

A major private pension plan is the Plan d'Epargne Retraite Populaire (PERP).

Additionally, you should exploit your opportunity for private provision in the third pillar.

Why do I need a third pillar (private provision)?

You have a range of options on how to structure your private provision in accordance with your individual needs.

Supplement your private pension (Pillar 3)

You can use your private pension to provide for your family financially.

Private pensions are available from banks and life insurance companies.

Private savings for retirement are becoming increasingly important.

They rely to varying degrees on private-funded provision to complement these public schemes.

You can also keep your private pension if you want to keep working after reaching retirement age.

The PEPP should be a safe, transparent and cost-effective personal pension savings product.

However, this requires stable conditions and an objective discussion of the private pension provision issue.

Its financing is carried out primary through insured persons within the public health care as well as through increasing private provision.

There is also the question of whether, in the Commission's opinion, it is not short-sighted or even negligent to provide State subsidies for private pension provision without quality standards if there is a risk that, after these enormous losses, the pension recipients will be in even more need of support from the State.

Whilst most pension income will continue to be provided by first pillar schemes, Member-States are also promoting private provision.

Furthermore, the federal government adopted a reform of long-term care aiming to extend benefits, to increase the contribution rate by 0.1pp and to introduce tax incentives for voluntary private insurance, which also appears insufficient to cope with expected future cost increases, however.

The crisis has underscored this double payment problem and has caused a few governments to halt or lower contributions to private pensions to improve public pension finances.

Most Member States expect private provision through occupational or personal schemes to play a more important role in the future, although public schemes will remain the most important source of pensioners’ income in all but a few countries.

However, even if private provision overtakes public pension schemes in terms of total benefit payments, it is to be expected that for a very large proportion, if not a majority of pensioners, public benefits will remain the largest source of income in old age.