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Pension package II: trillions in burdens for future generations
Traffic light pension package II: New study reveals billions in burden for future generations and employees. Criticism from economists and employers. An expensive social law in the economic department.
Pension package II: trillions in burdens for future generations
The traffic light coalition's pension policy is at the center of a current controversy that was triggered by Pension Package II. According to a new study by the management consultancy Teckpro AG in collaboration with a financial mathematician from the Rhineland-Palatinate Technical University, considerable sums must be raised for the government's pension plans. By 2036, it could optimistically be 876 billion euros.
Pension package II includes measures to keep the pension level stable and prevent a decline in statutory pension provision. However, pension contributions could increase significantly from 2028, which the federal government wants to compensate for with the planned “generational capital”. This capital-based pension system stipulates that billions of euros flow into a fund every year to support the statutory pension. However, the introduction of this system has met with criticism from economists.
A central point of criticism of Pension Package II is the overburdening of young generations. The plans could lead to the burden of demographic change being shifted one-sidedly onto the shoulders of future generations. The creation of debt to finance generational capital also entails risks, as these may not be adequately covered by returns.
The FDP and the Confederation of German Employers' Associations (BDA) also express clear criticism of Pension Package II. The BDA even describes it as the “most expensive social law of this century”. The BDA warns of unaffordable costs, rising contribution rates and a one-sided burden on contributors. The debate about pension package II highlights the challenges and controversial aspects of pension policy in Germany.