Economy “Unfair and unjust”
“Must be stopped immediately” – employer president criticizes pension package
Status: 07.04.2024 | Reading time: 2 minutes
Warning from employer president Dulger – “The most expensive social law of the century”
Employer President Rainer Dulger strongly criticizes the Federal Government’s planned pension package II. The project must be “stopped immediately”.
The “most expensive social law of the century”: Employer President Rainer Dulger sharply criticizes the traffic light government’s planned pension reform. He was “stunned” that Federal Labor Minister Hubertus Heil “wants to massively increase pension spending again.”
Employer President Rainer Dulger reiterates his criticism of the Federal Government’s planned pension package II. Dulger said the “Picture on Sunday“He is “stunned” that Federal Labor Minister Hubertus Heil (SPD) “now wants to massively increase pension spending again, even though we are facing the biggest aging surge that has ever occurred in Germany.”
Pension Package II would be the “most expensive social law of the century,” Dulger repeated the criticism of the Confederation of German Employers’ Associations. The project must therefore be “stopped immediately”. It would be “unfair and unjust to spend 500 billion euros more on pensions over the next 20 years.” According to the report, the federal government expects pension spending of 802 billion euros in 2045 in the draft bill for the “Pension Level Stabilization and Generational Capital Act”.
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The federal government wants to stabilize pension levels and slow down the expected increase in pension contributions. Heil and Finance Minister Christian Lindner (FDP) presented a reform package at the beginning of March with which the pension level of 48 percent should also be guaranteed for the future. The pension level indicates what percentage of the current average wage someone who has always worked at the average wage for exactly 45 years receives as a pension.
Because this costs large amounts of additional billions, but pension contributions should not increase too much, the financing should be based on an additional pillar: a capital stock on the stock market. In total, at least 200 billion euros are to be invested by the mid-2030s. Ten billion euros should then flow from the income to the statutory pension insurance every year.
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The President of the German Pension Insurance, Gundula Roßbach, is currently not worried about the development of pension costs. “The pension insurance is currently in a very good financial position,” she told “BamS”. Society has been aging not just today, but for decades. “So far we have succeeded in keeping the contribution rate stable, contrary to all forecasts,” emphasized Roßbach. According to Roßbach, Germany’s spending on pensions as a percentage of economic output is still below the EU average – in recent years mainly due to the increased employment of women.
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From Roßbach’s point of view, a stable labor market and the immigration of additional workers are central elements in making the statutory pension crisis-proof for future generations. For a “reliable pension”, “the contribution rate and also the federal subsidy for pension insurance would have to increase in the next few years”.