Our topics

Retirement provision

To secure living standards in old age, shares need to occupy a firm position in German retirement provision. This enables people to participate in economic success and stabilises the pension system. We endeavour to replicate a saving pattern closer to the international norm. This helps us to come to grips with the challenges of demographic change in Germany.

[Translate to English:] Dr. Norbert Kuhn

Contact
Dr. Norbert Kuhn
Deputy Head of Capital Markets Department
Head of Corporate Finance
Tel.+49 69 92915-20

Investment in shares and securities
Retirement provision
Compliance
Corporate governance and company law
Digital Finance
Financial market supervision
Financial market regulation and real economy
Capital market financing
Sustainability
Publicity and transparency
20.03.2023
Deka Fondsmagazin, Deka Investments: „Price declines used to enter the market“ (in German)

In an interview with Deka-Investments' Fondsmagazin, Dr. Christine Bortenlänger, Managing Director of Deutsches Aktieninstitut, proposes the introduction of an investment savings account to further promote equity savings in Germany. She...

In the media
16.03.2023
Interview at Tagesschau24: Update Wirtschaft on 16.03.2023 (in German)

"What was your first share?" Dr. Franz-Josef Leven, Deputy Managing Director, talks about this in tagesschau24's "Update Wirtschaft" program. The topics of stock culture in Germany and the stock pension were the subject of an interview...

In the media
23.02.2023
Der Westen: Rente - Demographic change threatens the system - what does generational capital bring?

In the second part of the interview with "Der Westen", Dr Norbert Kuhn, Head of Corporate Finance at Deutsches Aktieninstitut, explains that at least ten billion euros should be invested annually in the stock market as part of...

In the media
23.02.2023
Der Westen: Share pension - Isn't that too risky, what the state is doing?

In an interview with "Der Westen", Dr. Norbert Kuhn, Head of Corporate Finance at Deutsches Aktieninstitut, talks about the potential returns of a long-term and broadly diversified equity investment. The share pension is a sensible...

In the media
12.12.2022
More ambition needed for equity pension (in German)

The German government wants to tackle the planned share pension to strengthen the statutory pension insurance. Dr. Norbert Kuhn, Deputy Head of Capital Markets and Head of Corporate Finance at Deutsches Aktieninstitut, explains in our...

Column
04.11.2022
Plan for funded pension provision is step in the right direction (in German)

We welcome the fact that the German government is now taking a concrete approach to the equity pension agreed in the coalition agreement. Shares, which can generate attractive long-term returns of six to nine percent, are an important...

Press releases
19.09.2022
Study shows: Young people invest long-term and regularly on the capital market

A new study by the Center for Research in Financial Communication at leipzig University in cooperation with the DIRK - Deutscher Ivestor Relations Verband and Deutsches Aktieninstitut shows that young people under the age of 35, the...

Studies
19.09.2022
End discrimination against equity investment - introduce investment savings accounts (in German)

Die Eckpunkte des Zukunftsfinanzierungsgesetz sehen einen Freibetrag auf Kursgewinne vor, die beim Verkauf von Aktien und Aktienfonds anfallen. Was ist die angemessene Höhe dieser Freibeträge, damit Kleinsparer die notwendigen Anreize...

Position papers
29.06.2022
Zukunftsfinanzierungsgesetz aims to bring shares into the centre of society (in German)

The Federal Minister of Finance and the Federal Minister of Justice today presented key points for a Zukunftsfinanzierungsgesetz. Deutsches Aktieninstitut welcomes this initiative, which is intended to make shares more attractive as an...

Press releases
08.06.2022
Why a higher saver's lump sum does nothing for saving in shares (in German)

According to the coalition agreement, the federal government wants to increase the savers' lump sum to 1,000 euros. However, the increase will not help to make long-term share saving more attractive. Measures such as the introduction of...

Column
17.12.2021
From shares and bonds - 120 years of yield comparison (in German)

Compared to bonds, stocks have generated significantly higher returns over the past 120 years and at the same time have been associated with less risk. This is shown in our study "Kapitalgedeckte Altersvorsorge mit Aktien! 120 Jahre...

Column
17.12.2021
Going Public: "Prejudices against shares are reduced" (in German)

With the introduction of funded pensions, the current pension system is to be restructured according to the ideas of the new traffic light government. But what are we to think of a statutory equity pension? This would lead to positive...

In the media
02.11.2021
Capital-funded old-age provision with shares! 120 years of shares and government bonds in the yield comparison (in German)

Our current study with the Verbraucherzentrale Bundesverband (vzbv) and FINVIA Family Office GmbH shows that a broadly diversified investment in equities can generate attractive returns over the long term without leading to higher risks...

Studies
02.11.2021
Ampel-Koalition must realign funded pension provision (in German)

The top priority for the coming federal government must be the introduction of a low-cost, equity-based funded pension scheme. A recent paper by Deutsches Aktieninstitut and the Federation of German Consumer Organisations (vzbv) in...

Press releases
30.10.2021
Deutschlandfunk Kultur: "Let's go - tackle!" (in German)

In an interview with Deutschlandfunk, Dr. Christine Bortenlänger talks about her expectations of the new federal government. The new traffic light coalition has addressed many issues correctly on the basis of the exploratory paper - now...

In the media
29.10.2021
Statement on the increase of the savers' lump sum published (in German)

The Südschleswigsche Wählerverband South Schleswig Voters' Association has submitted a motion to increase the savers' lump sum. In our statement to the Finance Committee of the Schleswig-Holstein State Parliament, we emphasise that we...

Position papers
28.09.2021
A new start in pension policy is needed (in German)

Our pension system is facing major challenges due to demographic developments. Nevertheless, pensions played a rather subordinate role in the Bundestag election campaign. Yet there are good proposals from the various federal parties on...

Column
22.09.2021
Going Public: A new start in pension policy is possible (in German)

Pensions play a rather subordinate role in the Bundestag election campaign. In their article, Dr Norbert Kuhn and Donato Di Dio write that there are good proposals from the various parties on how pensions with shares can be made more...

In the media
23.08.2021
Absolut|spezial: Generation-appropriate pensions and efficient capital markets (in German)

Equity-oriented pension provision would strengthen the German capital market in the long term and improve its competitiveness, comments Dr. Christine Bortenlänger. The next federal government has the chance to anchor equity savings in...

In the media
12.04.2021
Frankfurter Rundschau: Capital market is more than Riester pension

In his commentary, Dr Franz-Josef Leven contradicts the opinion of Hans-Jürgen Urban, Executive Member of the Board of IG Metall, and Markus Kurth, Member of the Bundestag for the Greens, that the capital market is not a useful means of...

In the media
07.07.2020
Courage to reform pensions - What Germany can learn from other countries (in German)

The pension clock is ticking: Over twelve million baby boomers will retire in the next ten years. The number of young people newly entering the workforce and paying contributions is significantly lower. Without higher pension...

Studies
21.08.2019
Kurvenlage - Semi-Annual Report of Deutsches Aktieninstitut, First Term 2019 (in German)

Focus: Old Age Provision

Kurvenlage
26.06.2019
Use Shares and make the Pension System fit for the Future - what Germany can learn from other Countries (in German)

The comparing study focuses on the experiences of countries like Australia, Sweden, the United Kingdom and the US as regards the use of shares in the pension system. It is the aim of the study to outline what Germany can learn from...

Studies
26.06.2019
A Safe Pension with Equities

In other countries, shares make a significant contribution to securing the standard of living of people in old age. This is the result of a study published today by Deutsches Aktieninstitut entitled "Altersvorsorge mit Aktien...

Press releases
14.08.2017
Kurvenlage - Semi-Annual Report of Deutsches Aktieninstitut, First Term 2017 (in German)

Focus: Federal Election 2017

Kurvenlage
06.12.2016
For the Future Functioning of Old Age Provisions in Germany Shares Are Essential (in German)

“For the Future Functioning of Old Age Provisions in Germany Shares Are Essential”: This is the result of the study “Securing the Standard of Living in Old Age – Reducing the Pension Gap with Shares” published today by Deutsches...

Press releases
08.08.2016
Kurvenlage - Semi-Annual Report of Deutsches Aktieninstitut, First Term 2016 (in German)

Focus: Retirement Planning

Kurvenlage