Pensions: A European Headache (Except in Denmark)

Worried about pension provision and living in the European Union? You’re not alone.

(July 31, 2013) — Less than 20% of European Union citizens have larger worries than their retirement income, a survey by the body revealed today.

Those living in Ireland, Turkish Cyprus, Luxembourg, and Sweden said their education systems posed a more pressing problem to their happiness, but pensions and retirement provision was next in line.

Danish people were less concerned than most about their pension—the state retirement assets are run by sophisticated investor ATP—citing “nothing” as their major worry.

The responses were reported in the regular Eurobarometer survey issued by the EU, designed to monitor sentiment within the 27 member states on a wide range of issues.

German citizens recorded the highest level of concern about their retirement income, relative to other problems including climate change and the education, while Sweden—which operates a buffer fund system to back up state pension assets—is alarmed about environmental issues.

The survey also showed sentiment towards the EU as a whole and its related financial bodies. Tellingly, the member states that have suffered the greatest economic crisis showed little faith in the governing institutions.

Just 18% of Greek respondents said they tended to trust the European Central Bank (ECB), while 11% of their Cypriote neighbours felt the same way. However, the next least trusting of the bank were UK citizens, just 21% of whom had faith in the financial institution.

Overall, just 34% of EU citizens were convinced by the ECB.

For the full survey results, click here

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