The German government is looking to introduce the “Frühstart-Rente”, a new private pension scheme automatically enrolling all school-age children. The reform would mark a profound shift, aiming for an early start to capital market-based old-age provision.

Germany is debating an overhaul of the third pillar of retirement savings, aiming for effective low-cost solutions with higher returns. The reform is crucial as the public pay-as-you-go system faces mounting strain from demographic change, making supplementary private pension income vital. The planned new “old-age provision account” would move away from expensive mandatory guarantee products and allow up to 100% equity exposure. This could help to channel more retail savings into higher-yielding stock markets, which has the potential to become a true game-changer for German households’ financial well-being in their old age.

Germany is debating an overhaul of the third pillar of retirement savings, aiming for effective low-cost solutions with higher returns. The reform is crucial as the public pay-as-you-go system faces mounting strain from demographic change, making supplementary private pension income vital. The planned new “old-age provision account” would move away from expensive mandatory guarantee products and allow up to 100% equity exposure. This could help to channel more retail savings into higher-yielding stock markets, which has the potential to become a true game-changer for German households’ financial well-being in their old age.

In this report, we discuss "restricted markets," defined as emerging markets with current or capital account restrictions, or both. We examine their market structure and challenges of trading. Recent regulatory and technological changes offer new opportunities for market participants involved in these markets.

In this report, we discuss "restricted markets," defined as emerging markets with current or capital account restrictions, or both. We examine their market structure and challenges of trading. Recent regulatory and technological changes offer new opportunities for market participants involved in these markets.

The series of five regional elections has been kicked off. Favorable election outcomes might lead to a new reform push in the Merz government.

The series of five regional elections has been kicked off. Favorable election outcomes might lead to a new reform push in the Merz government.