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Die Corona-Krise macht die Menschen derzeit tendenziell sparsamer.
© iStockphoto
Vienna: The Crown Crisis makes Austrians cheaper and more careful about spending money, as a market survey on behalf of Allianz shows. The economy and precaution play an important role in the Corona crisis. The medium-term financial future is viewed with optimism, especially by the youngest. According to Werner Beutelmeyer, managing director of the Market Institute, women and young people are particularly stressed in the Corona crisis and are more skeptical about pensions.
Every second respondent claimed that they currently spend less or much less money as a result of Corona, both men and women. About one in three said they paid more attention to personal expenses than before and made fewer purchases overall. 27 percent make sure they save more money than before. However, every second respondent expects their financial situation to improve over the next five years. Children in particular – nearly 60 percent of 18- to 34-year-olds – are optimistic here. “That’s a positive outlook,” because right now there is a bottom of the economy and a rejection of society by Corona, Beutelmeyer said Thursday in an online presentation of the “Allianz pension barometer.”
When it comes to short-term expectations for the next three to six months, optimism has decreased and pessimism has increased. This rather pessimistic assessment in the short term is holding back consumption. There is currently a health crisis with a huge economic component. If you ask the Austrians, they feared a slightly greater economic impact than the virus infection. Prevention and economics are almost more in the focus of the risk society in the threat scenario than in the tangent of health.
It is particularly difficult for young people and women.
Beutelmeyer is also currently locating a generational problem: the population says that young people, those under 30, have a particularly bad time. The Allianz Core Study also shows that older people see their futures more relaxed and financially secure. The young people expressed their solidarity and were aware of their special responsibility to the older generation, but they would see a great future and pension risk. “We currently have a very central generation problem in our society.” Young people are the challenged, largely the maintainers of the system and generations at risk, so future provision and the young generation are special issues to be addressed.
Furthermore, women bear a heavier burden, not only due to the Corona crisis in the form of caregiving, homeschooling, and home office, but they also have less income, fewer resources, and less potential for future provision. Right products and political support are probably needed here. For Beutelmeyer, the central themes are gender solidarity and intergenerational solidarity, which should be demanded more and the issue of pensions is a megatrend.
In today’s survey, one in two people (52 percent) considers their own financial security a particularly important pension issue, as is their pension (51 percent). Only medical care is considered more important (62 percent). Three-quarters think about the pension. A third assumes that the state pension provides little security in old age: women (38 percent) more than men (28 percent), 18 to 34 years (44 percent) more than 55 to 65 years (14 percent) .
Only one in two has a state pension
Only one in two people expect to receive a state pension. Here you can see a particularly large generation gap: 29 percent of the younger generation certainly expect to receive a state pension, 81 percent of the older generation.
56 percent said they feared poverty in old age. This concern was highest for women (59 percent) and younger people (62 percent). The younger generation has a much tougher time in society right now when it comes to life safety, planning and provision of life, according to Beutelmeyer. The situation in the labor market is currently more difficult, and the creation of property with respect to the heirs raises the question of when and what they will inherit.
According to the survey, one in two people (53 percent) invests in private services for the elderly. This value was unchanged compared to a comparable 2014 survey. The proportion of women (48 percent) was lower than that of men (58 percent). 57 percent of men, but only 42 percent of women, expect an adequate state pension. In particular, women should be encouraged to take precautions as soon as possible, says Silke Zettl, director of market management at Allianz Austria. You should also take care of it yourself, you can also make provisions with small contributions.
When asked which strokes of fate seem particularly threatening, the first priority was the loss of a loved one (67 percent). This was followed by serious illnesses (60 percent), which became a need for personal care (50 percent), serious accidents (24 percent), poverty (22 percent), loneliness (16 percent), death (11 percent) and loss of their job. (10 percent). In September, 1,000 employed persons between the ages of 18 and 65 were surveyed.
