German Bundesrat Proposes Pension Reform to Secure 48% Minimum Pension Until 2031
The German Bundesrat has initiated a crucial discussion on the reform of the statutory pension insurance. Mayor Andreas Bovenschulte has welcomed the legislative proposal that aims to maintain the minimum pension level at 48 percent until 2031.
The statutory pension is the primary source of income for most Germans in their old age. Without a legal provision, this pension could drop below the 48 percent threshold, significantly impacting the living standards of many people. Mayor Bovenschulte has expressed that those who have worked hard throughout their lives deserve a secure old age.
To secure and stabilize the statutory pension, a consistent policy focusing on productivity, growth, and full employment is vital. The 'double safety line' - stability in both pension and contribution levels - is also of great importance. This ensures that the younger generation is not overburdened with constant increases in social security contributions. The goal is to find a sustainable solution for financing the pension insurance while minimizing the risk of poverty and social exclusion for pensioners, especially women.
The Bundesrat's initiative to maintain the minimum pension level at 48 percent until 2031 is a significant step towards securing the old-age income of Germans. Mayor Bovenschulte's support for this proposal underscores the importance of a sustainable and fair pension system that balances the needs of both current and future generations.
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