20.04.2018 - Studies

Slight decline in the pension deficits of DAX 30 companies - Just a quick breather (?)


Anyone who has recently followed the headlines in the business press on the subject of company pensions might have got the impression that the pension agreements of German companies are in good shape: "The pension assets of DAX 30 companies are reaching a new record" or "The DAX pension gap is narrowing to a ten-year low" was read here. Even if these headlines sound like the all-clear, they do not accurately reflect reality.

The pension obligations of the DAX 30 companies declined slightly last year, but at 381 billion euros are at the second highest value ever reported. Pension deficits have also fallen. However, it must be doubted that this decline will herald a sustained reversal of the trend. Sustained low interest rates in the euro zone and a strongly nominal value-oriented asset allocation should prevent this.

Please note: This study is available in German only.

Download study as PDF (Reading time ca. 15 min)

Legal notice

The information contained and opinions expressed in this document reflect the views of the author at the time of publication and are subject to change without prior notice. Forward-looking statements reflect the judgement and future expectations of the author. The opinions and expectations found in this document may differ from estimations found in other documents of Flossbach von Storch AG. The above information is provided for informational purposes only and without any obligation, whether contractual or otherwise. This document does not constitute an offer to sell, purchase or subscribe to securities or other assets. The information and estimates contained herein do not constitute investment advice or any other form of recommendation. All information has been compiled with care. However, no guarantee is given as to the accuracy and completeness of information and no liability is accepted. Past performance is not a reliable indicator of future performance. All authorial rights and other rights, titles and claims (including copyrights, brands, patents, intellectual property rights and other rights) to, for and from all the information in this publication are subject, without restriction, to the applicable provisions and property rights of the registered owners. You do not acquire any rights to the contents. Copyright for contents created and published by Flossbach von Storch AG remains solely with Flossbach von Storch AG. Such content may not be reproduced or used in full or in part without the written approval of Flossbach von Storch AG.

Reprinting or making the content publicly available – in particular by including it in third-party websites – together with reproduction on data storage devices of any kind requires the prior written consent of Flossbach von Storch AG.

© 2024 Flossbach von Storch. All rights reserved.