Saturday, October 19, 2019
Federal Minister of Economics Peter Altmaier calls the planned basic pension a "basically non-insurance benefit".
(Photo: Stephanie Pilick / dpa / archive picture)
For six years, pensions continue to rise. Actually a good sign for the future. But Minister of Economic Affairs Altmaier warns: "That will not last forever." There is a lack of money. The federal government has promised too much, says the CDU politician.
In view of the sluggish economy, Federal Minister of Economics Peter Altmaier has questioned the decisions of the Grand Coalition to stabilize the pension level. "We have agreed on a double stop line: One at the pension level and one in the contributions," said the CDU politician to the editorial network Germany. "The prerequisite for the agreement was that realistic assumptions are made, and if they do not, we need to talk again," said Altmaier. Pensions have been rising above the inflation rate for six years. That's a great gift. "To be honest, we can not promise that this will continue forever," the minister said. "Even in the pension commission is slowly gaining the insight that the trees do not grow into the sky .. Who today promises a stable pension level for the future, must also say how he wants to pay." Altmaier complained of high non-wage labor costs in Germany. The social security contributions have now reached a total of 39.9 percent. "In my view, more than 40 percent are not sustainable in the long term because it would cost jobs," warned the Federal Minister of Economics. He renewed his demand for a cap on social security contributions. "We could reduce the unemployment insurance by several tenths of a point already next year, which would be a real relief, but it would be directly eaten up by rising pension contributions." Altmaier called the planned basic pension a "basically non-insurance benefit". Funding from contributors' funds would put an additional burden on the economy, which must be avoided at all costs.