The system for pensioners is to be reformed by the current federal government.
Now a share pension is to come – who is this intended for?
Hamburg – The statutory old-age pension will increase in stages up to 2031.
Consumers can then only retire at the age of 67.
The current government will soon give retirees the option of a share pension.
What does this look like and for whom is it an option?
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Social insurance: | German pension insurance |
Founding: | October 1, 2005 |
Insured: | 56.7 million (December 31, 2020) |
Pensioner: | 21.2 million (as of July 1, 2022) |
Knowledge for retirees: What does the share pension look like - how is it financed?
The regular old-age pension was previously financed using a pay-as-you-go principle.
Pension payments are financed from current income.
Anyone who works in 2023 will therefore finance the current pensions.
A major pension reform aims to change that.
If things go according to the plans of the current federal government, the financing should soon also be realized from share profits.
The so-called generational capital was presented by Finance Minister Christian Lindner (FDP).
The system: build up a capital stock for pensioners from public funds.
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The share pension is intended to relieve the pension system.
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© Arne Immanuel Bänsch/dpa
Pension contributions are to be stabilized from this capital stock from the mid-2030s – the younger generation will be relieved.
Specifically, shares and bonds are to be bought on the stock exchange via a state fund.
The positive for employees: The contribution rate for employees is to be reduced by financing the pension elsewhere.
As the German Trade Union Confederation writes, the terms "generational capital" and "share pension" mean the same thing.
What can be the advantages and disadvantages of stock pensions - who gets them as pensioners?
Contrary to what the FDP planned in its election program, the fund should not be financed by pension contributions.
If Finance Minister Lindner has his way, this will not be ruled out in the future.
As several studies have found, the planned capital stock of ten billion will not be sufficient anyway to strengthen the statutory pension system for pensioners.
One consideration from the FDP is therefore to put ten billion euros into the stock pension every year - for the next 15 years.
It is not yet known how the project will be financed.
Critics say that stock rent creates too much new debt for future generations.
The share pension is also not a secure system - the stock market is subject to strong price fluctuations.
One of the models for stock pensions is Sweden, which was one of the first European countries to introduce it for pensioners.
With the most popular sovereign wealth fund, the average increase in value there is around 12.5 percent per year.
The share pension has no effect on the current amount of the pension, only on the amount of money that has to be paid in for it.
List of rubrics: © Arne Immanuel Bänsch/dpa