The pension Commission of the Federal government, which is to present proposals for a “reliable generation of a contract, for the period from 2025”, threatens to “FAZ”-information about the Failure. A few weeks before the planned presentation of the final report at 10. March is uncertain whether the represented on the Commission, politicians, employers, trade unions and scientists can agree on a common line, reported the “Frankfurter Allgemeine Zeitung” on Friday.
A two-day retreat at the beginning of February have brought no significant progress. The newspaper quoted a member of the Commission, Axel Börsch-Supan. The Munich Economics Professor said, therefore, on a pensions conference: “you can Expect better nothing.” The FOCUS of the Online pension calculator, you can Calculate the amount of your pension annuity calculator is not displayed? Click here!
The body had been enacted since the Constitution in the summer of 2018 silence. The “FAZ”-according to the information of the members were already hard to agree on a common data base. Börsch-Supan told the newspaper: “The Commission itself has dug too many pitfalls.” The pension expert who listened to the many government commissions, and added: “The pension of the political thinking of the prohibitions narrow the discussion room so that you can no longer move.”
Rigid default retirement age
Börsch-Supan was not referring to this, according to the report, among other things, on the default of the Federal Minister of labour, Hubertus Heil (SPD), to shift the retirement age to rise by 2031 to 67 years.
in view of the inconsistencies in the Commission of the likelihood that the coalition will introduce in this parliamentary term, fundamental reform measures for the pension fades as the “FAZ” reported more. But that would be urgently needed. So far, the Federal government is planning only up to the year 2025. There are lines for the pension contribution at 20 percent, and the pension level at 48 percent support. Also, the retirement age is set to the year 2030, to 67 years.
these are the most pressing issues of our Rentensystems1. Financial buffer disappears
The financial reserves of the pension insurance has still, however, be expected to be depleted by 2025.
2. Society is ageing
At the same time, the drama to come from changes to the pension system, because the baby boomers go into retirement without new contributors move in the same number.
3. Pension level decreases
This means that pension levels must decrease in order to guarantee all pensioners a share of the proceeds. The Federal government expects, according to a response to a FDP request in order that it will decrease up to the year 2045 by 48 to 43 percent.
4. Pension contributions will rise
At the same time, the pension contribution will have to rise to this level. Here the calculations result in a rise of 18.6 per cent to 23 per cent of the gross salary.
screw the age of retirement
What the state can do? For the Bundesbank, there is a medium, in this scenario, avert: The retirement age will have to be adjusted to life expectancy, so that the duration of Pension payments, from the year 2030 to be stable. So the burden of the pension would be distributed on more shoulders, and at the same time, less money would be available than in the previous Plan. To create this, would have to increase the retirement age until 2070 to 69.3 years. We will answer your questions about the pension
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“If the increase in life expectancy would thus be carried out with the retirement age bill, would have to cope with, in particular, the financial pressure due to the lower birth rates since the 1970s,” the experts from the Bundesbank in their study. They also stress: “in the Future, the Insured would then have to Deposit first of all longer in the GRV, then, but also no longer entitled to a pension. You would not be worse off in terms of the Ratio of pensions to contribution phase.”
A fly in the ointment: this measure would reduce the pension level to just under 44 percent and the contribution rate will rise to approximately 24 percent.
“The acceptance of the pension system depends not least on the assumption that the level of provision is considered appropriate”, warn the experts. “One of reliable prospects, moreover, that the resulting financing burdens appear to be acceptable.
The study shows also that the statutory pension alone is not enough and will suffice. Thus, each is asked for the retirement plan. Good opportunities Riester pension, ETF-based Riester pension or a share savings plan. You can find more information here: Preparedness and backgrounds: you can Learn more on the topic of pension
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