Berlin, December 22 – According to Frank Werneke, head of the Verdi trade union, the pensions of millions of Germans are so meager that the recently approved stabilization of pension levels will prove insufficient for many. Werneke, in a video interview with the German Press Agency in Berlin, highlighted that after a full working life, many retirees often receive only 1,200 to 1,300 euros. For those with periods of part-time work, particularly numerous women, this figure often drops below 1,000 euros.
Stabilization of Pension Levels: A Political Success, but Not Enough
“In this respect, the stabilization of pension levels until the end of 2031 is, of course, a political success from the SPD’s point of view, but from the perspective of those affected, it is the bare minimum that must happen,” Werneke stated. A coalition law, approved by the Bundestag and Bundesrat, is set to take effect on January 1, aiming to maintain the pension security level at 48 percent of income until 2031. Werneke, however, called for much more substantial measures, especially in light of the newly established pension commission.
High Expectations for the Pension Commission
The commission, tasked with presenting proposals for a comprehensive reform of old-age provision by mid-next year, faces high expectations. Werneke described the coalition’s mandates to the commission as
