Scholz: SPD guarantees stable pension level | free press

“The pension is safe,” former Labor Minister Norbert Blüm (CDU) once said. Now SPD chancellor-candidate Scholz is promising: the pension remains stable.

Berlin (dpa) – SPD chancellor candidate Olaf Scholz has promised stable pensions in the event of an election victory. “The SPD guarantees a stable pension level,” said the vice-chancellor of the German news agency. The CDU and CSU, on the other hand, do not mention this in their election manifesto.

“Every retiree, but also every young man and woman should take a good look at this,” Scholz advised. If the Union intentionally does not guarantee a stable pension level, “you can find out what happened to a CDU-led government: then the pension level will drop,” Scholz warned.

For stable pensions, first of all, the employment rate must be high – and that of women must be improved. “We also need to ensure that someone who starts looking for a job at the age of 58 also finds a new job,” said Scholz.

Around the year 2030, securing the pension level will also require a somewhat higher federal subsidy. The state still gets this subsidy cheaper than the CDU and CSU desired tax cuts for top earners and high-income companies. “You see very factually, a stable pension level is possible – everything else is interest-based ideology,” Scholz emphasized.

Tax funds already cover about 30 percent of pension spending — the federal government spends more than a quarter of its budget on it. When the strong cohorts born in the 1960s retire, the relationship between beneficiaries and contributors is likely to get even worse.

This year there was almost no pension increase due to the Corona crisis. Only in East Germany did salaries increase by 0.72 percent. The reason was the cyclical decline in premium income at the pension fund. Pension insurance expects a clear plus for the coming year.

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