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Pension: Golden years expected - "Employees would have to pay"

2021-11-15T16:51:03.421Z


Pensioners can look forward to growing salaries in the years to come. For workers, however, the pension increases could have dramatic effects.


Pensioners can look forward to growing salaries in the years to come.

For workers, however, the pension increases could have dramatic effects.

Berlin - The year 2021 is drawing to a close and the golden years will begin for many German pensioners in 2022: They can expect strong increases in the 2022 pension.

According to information from the Bild newspaper, the government expects significant pension increases for the next 15 years.

In the next year alone, salaries in western Germany are expected to rise by 5.2 percent and in the eastern federal states by 5.9 percent *.

For the west, this means the strongest increase in almost 40 years.

Regular income:

pension

Entry age in Germany:

67 years of age

Average pension man:

1178 euros

Average pension woman:

768 euros

But apparently the end of the development has not yet been reached: According to the Bildzeitung, pensions could rise by more than a third by 2037 - according to the as yet unpublished pension report.

With the annual pension adjustment on July 1 of each year, there is an adjustment to the development of gross wages in Germany.

Pension cuts, on the other hand, are legally excluded by the so-called pension guarantee.

Golden years for pensioners: Experts see disproportionate pension financing - pension funds are threatened with ruin

Rising pension payments on the one hand, and a falling number of employees on the other: In the coming years, the deficit in financing pensions will become even greater when the baby boomers retire *.

According to a recent IW study, there are serious imbalances and other experts are also warning.

Bernd Raffelhüschen said in the newspaper Bild that the pension funds are threatened with financial ruin with the lavish increases in the coming years.

+

Pensioners in Germany can look forward to rising salaries over the years

© Frank van Delft / imago

“Ultimately, the surcharge would have to be paid by employees with higher pension contributions and taxpayers,” said the scientist from the University of Freiburg.

He is certain that the statutory pension needs reform.

"The framework conditions of the statutory pension with a lower limit of the pension level at 48 percent and a cap on contributions to 20 percent cannot be maintained," said Raffelhüschen in the course of the presentation of the precautionary atlas a few weeks ago.

Pension in Germany: Ampel-Coalition wants to stick to the pension level

"If we stick to the double stop line beyond 2025, the deficits in the statutory pension insurance will increase significantly," he is sure of. He sees only a few ways out of dealing with the problem: Either increasing the federal subsidy or adjusting the retirement age. If neither is wanted or feasible, the path does not lead to a reduction in the pension level or an increase in contributions.

It almost seems as if the victims of the upcoming pension adjustments will be the current employees, who have to expect significant changes in the statutory pension scheme in the coming years.

Although the parties to the possible traffic light coalition have recorded a five-point plan for the pension * in their exploratory paper, which, in addition to the statutory pension, also sees company and private pension schemes as important cornerstones for a good life in old age, experts see them Project as hardly tenable.

Traffic light coalition: SPD, Greens and FDP are not planning any major pension reforms

Major pension reforms also look different. At the same time, the SPD, Greens and FDP agreed on a new pension guarantee and are sticking to the retirement age. The guarantee states that the pension level must not fall below 48 percent. "The next government must face the problems of the pension system as a whole and drive reforms forward," says Hans Joachim Reinke, Chairman of the Board of Management of Union Investment. The coalition parties' plans are moving in the right direction. The Verdi union, on the other hand, sees the planned changes in the mini-job as poison for retirement *.

Researchers at the Institut der Deutschen Wirtschaft see one way out of the failure of pension financing, among other things, in the fact that younger generations work more and forego vacation *.

So there is an urgent need for action to make the pension future-proof.

For many experts, the plans of the traffic light coalition are far too timid.

According to the top economist Daniel Stelter's opinion on Focus Online, “bold business-as-usual” is not the way out of the situation.

* Kreiszeitung.de is an offer from IPPEN.MEDIA.

List of rubric lists: © Frank van Delft / imago

Source: merkur

All news articles on 2021-11-15

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