French savers' risk aversion hits record as retirement outlook darkens

According to the 8th Ifop Barometer for Altaprofits, 81 % of French households regularly set aside money, pushing the overall savings rate to 18 % of disposable income – the highest level since the mid‑1970s. Despite the high savings, risk aversion is deepening: 79 % prefer low‑risk products, with 75 % holding regulated deposit accounts such as Livret A, LDDS or PEL, and 27 % holding life‑insurance contracts. Only 3 % invest in higher‑yield, riskier assets, down from 6 % the previous year.

Pension expectations are growing more pessimistic. Seventy‑five percent of respondents anticipate a lower standard of living after retirement, and 43 % say they will rely exclusively on the pay‑as‑you‑go system for future income – a rise of 15 % in one year. The share of savers keeping cash in current accounts rose to 13 %, especially among those over 65. Women, retirees and lower‑income households show the strongest risk‑avoidance.

The barometer also notes limited public interest in defence spending, with only 30 % of savers willing to allocate funds to that sector, while the majority cite political or ethical concerns.