Retirement provision in a state of flux: what financial providers can learn from the ETF generation

Private pension provision is by no means a marginal issue for younger demographics – though it is being re-evaluated. Our representative survey of 1,000 people shows that those under 35, in particular, are actively planning for their retirement, seeking out detailed information and, at the same time, have different expectations of products and providers than previous generations. 

Young customers are not turning their backs on pension provision – they are simply questioning how it is structured. For many, traditional promises of security are no longer enough on their own. Instead, transparency, cost structure, flexibility and attractive potential returns are among the most important factors when choosing a pension product. At the same time, the need for advice remains high. Digital information channels are the first point of contact for many, but they do not replace a face-to-face conversation. For providers in the financial sector, the key therefore lies in the intelligent integration of digital access and expert advice. Those who fail to meet these expectations risk being excluded early on in the decision-making process.
 

 
Competition is also changing. New digital providers and neobrokers are gaining visibility, without completely displacing established insurers and banks. For traditional market players, the question is therefore less about individual products and more about their role in the emerging ecosystem centred on advice, platforms and capital market-oriented pension solutions.

For financial firms, this presents a clear call to action: pension products should become more understandable, flexible and compatible with digital decision-making processes – without losing sight of the need for advice.