MIL OSI Translation. Region: Germany / Germany –
Source: The Left “If we want to lead the fight against the year-to-year exacerbating poverty of old people seriously, we must not save the pension more,” said Matthias W. Birkwald, pension policy spokesman for the group DIE LINKE, to demand the outgoing ver.di – Chairman Frank Bsirske to raise the contribution rate to 26 percent. Birkwald continues: “Frank Bsirske is right. With the lowest contribution rate of 18.6 percent for 20 years, we are saving the statutory pension instead of expanding it over the long term. Any non-tax-funded expansion of benefits, such as the so-called “mother’s pension” or the planned “basic pension” will then leave us the financial scope to raise pension levels again. However, the pension level and thus the annual pension increases are crucial for tackling today’s and tomorrow’s pensions the future poverty of old. If we financed the 26 per cent contribution rate equally, the employees would have to pay their four per cent of the salary simply into the statutory pension instead of the completely failed Riester pensions.Each contribution rate more in the statutory pension, if it is co-financed by the employers on an equal footing, 15.4 billion euros in addition to the pension fund. So Bsirskes proposal would bring in the end, say, 113.22 billion euros more in the pension fund. The current standard pension of € 1,487.25 gross could be raised to € 2,037.53, a pension from today € 1,000 to € 1,370. If you take this premium increase over four or five years, this radical turnaround is doable, affordable and affordable, because average earners and their bosses would have to pay monthly 120 euros more into the statutory pension than today, but the employee would have zero euros overspend because he Yes, the Riester contributions can save. “
EDITOR’S NOTE: This article is a translation. Apologies should the grammar and/or sentence structure need be perfect.