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Old-age poverty in Germany: Greens criticize pension package II
Millions of pensioners in Germany are threatened by poverty in old age: criticism of the Traffic Light Coalition's pension package II. How the new law affects pension levels and what the younger generation can do.
Old-age poverty in Germany: Greens criticize pension package II
The pension situation in Germany is facing a major challenge, despite the introduction of the pension package II by the traffic light coalition. According to an inquiry by Sahra Wagenknecht, millions of pensioners receive a statutory pension of less than 1,100 euros, which puts them below the poverty line. This affects over 10 million Germans, which accounts for more than half of the statutory pensions in Germany. This alarming figure illustrates the extent of old-age poverty in the country.
Furthermore, 12.4 million pensioners receive less than 1,300 euros per month and 15.1 million receive less than 1,600 euros per month. These figures are based on current pension insurance statistics. Sahra Wagenknecht criticized the government, especially Labor Minister Heil, and called for citizens to have more say in their pensions. The younger generation is also increasingly relying on private provision to secure retirement provision.
Despite a low statutory pension, the Federal Ministry of Labor and Social Affairs points out that this does not necessarily indicate poverty in old age. Retirees may have additional income from various sources. Nevertheless, there is a need for a transparent and fair pension policy. The government's pension package II is intended to stabilize income in old age, but there is already criticism as to whether this concept is sufficient to solve the problem of old-age poverty in Germany.