Swiss Life study shows record low self-determination in Germany

The eighth annual Self-Determination Barometer, conducted by Swiss Life Deutschland and the research institute Bilendi, reveals that feelings of self-determination in Germany have reached a record low. Only 52 percent of respondents reported feeling generally self-determined, down from 54 percent the previous year and significantly lower than the 63 percent peak recorded in 2020.

Financial concerns represent the most significant deficit. While 68 percent of respondents feel self-determined regarding leisure activities, only 35 percent feel self-determined regarding their financial retirement planning. A notable gender gap exists in retirement confidence: 31 percent of men feel confident about their retirement planning compared to only 19 percent of women.

Despite these challenges, 82 percent of those surveyed expressed a desire for financial independence. Major obstacles cited include rising prices and inflation (65 percent), insufficient income (40 percent), high rent and energy costs (38 percent), and healthcare and nursing costs (37 percent). Additionally, only 12 percent of respondents expressed trust in state assistance during financial difficulties.