“The pension must not become a black hole for the state budget,” Köhler told the editorial network Germany (RND). “Therefore, the issue of the financial feasibility of setting the pension level will still have to be discussed in the Bundestag.”
The pension package II, which the federal cabinet decided on Wednesday, provides for a stabilization of the pension level at 48 percent. The intention is also to expand the contribution-financed pension with a funded component – the so-called ‘generation capital’. A loan from the federal budget must be invested in the stock market. The cabinet decision must still be confirmed by the Bundestag.
Köhler emphasized that additional reforms are needed, such as the abolition of the pension without deductions at the age of 63. This is important “because it deprives the labor market of valuable personnel in times of an acute shortage of skilled workers and also puts additional pressure on pension funds. ”. It is regrettable that “necessary reforms have been postponed for far too long for fear of the political consequences”. Moreover, generational capital must be expanded.