Press Statement No financial market experiments with pensions

“The chancellor’s statement to stock market traders reveals the true agenda behind the Pension Commission: Instead of a reform based on solidarity, the focus is on devaluing and dismantling the statutory pension system in favor of private retirement savings. This only strengthens the financial lobby and relieves employers of their responsibility for retirement provision. Workers—and especially the younger generation—would have to bear an increasing share of the costs for their own retirement savings. We will resolutely oppose this. People do not want financial market experiments; above all, they want sustainable reliability and financing based on solidarity. This is only possible within and through the statutory pension insurance system, with a pension that is secure in the long term and more contributors to the solidarity-based system.”