Swiss Life’s third annual survey in Luxembourg asked members of the public what they think about retirement and how confident they are when it comes to their financial future. The results are clear: young and old, men and women, are all concerned.

Almost 10,000 people visited the website, which ran this year’s survey from September 29 to October 21. While not all visitors completed the questionnaire, Swiss Life was pleased to note a 50% rise in responses over the 2010 poll.

Workers are worried
According to the survey results, many in the working population are anxious about the future. Strikingly, young people in Generation Y, born in the mid-1980s and now fresh in the workforce, are as troubled as older employees.

Retirement and public pensions
Here are some of the most striking survey results when it comes to retirement and public pensions:
- Only 1 young person in 10 (under age 30) is not concerned about retirement
- Over 40% of young workers are apprehensive about how much money they will have on retirement – and are saving for a more secure future
- Only 1 in 10 people think that they can rely on the public pension system after retirement

General knowledge about employee benefits
On the topic of employee benefit solutions, the survey revealed:
- Young workers feel confused and uninformed about what is available
- 2 young workers in 3 admit that they don’t know much about retirement savings solutions
- 1 young worker in 4 don’t know if he or she has a pension plan
- 1 in 5 has no idea if they have risk coverage from their employer
- 1 young person in 2 doesn’t know if they and their family would be protected if anything happened to them

Responses from well-informed employees
When it comes to employees who do know that they have risk and pension coverage from their employer:
- Almost 60% see themselves and their families as well-protected thanks to coverage from their employer
- Over 3 in 4 young workers view training on how to use their plan, 7/24 access, and the ability to manage their pension investments as important

Food for thought
The survey results underline the importance not only of providing employee benefits for employees, but also the need to communicate about these, and educate employees on their coverages and options.

Commenting on the survey results, Pierre Dubru, Head of Corporate Clients at Swiss Life Luxembourg, says: “The bright spot is that we find that people who have coverage through their employers have a higher confidence level than those who don’t. Better communication with employees about their options should make employees less stressed and thus create a better working environment.”

The full survey report is available on request at the dedicated website:, or through

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Swiss Life Luxembourg wins top HR award

Swiss Life received the award for ‘Best Compensation & Reward Solution 2011’ at the HR One event held in Luxembourg in November. This is the eighth time that Swiss Life has won the award. A jury of 50 Luxembourg and international companies selected Swiss Life from ten competing firms, once again acknowledging Swiss Life’s leading position in the complementary life and pension market in Luxembourg.

Swiss Life’s competitive services, innovative solutions, and valuable annual benefit surveys (reported here) are key contributors to its excellent reputation in Luxembourg.
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Phone: +352 42 39 59 242