PRESS STATEMENT Cutting costs at the expense of the pension fund is a social time bomb

IG Metall firmly rejects the federal government’s plans to make further budget cuts by reducing the federal subsidy to the pension insurance system. Hans-Jürgen Urban, executive board member of IG Metall and responsible for social policy issues in this capacity, stated:

“Cutting the federal subsidy is nothing more than a fiscal sleight of hand and budget consolidation at the expense of the insured. At a time of great uncertainty, when people are seeking social security, cutting funding for pensions and other social expenditures sends the absolutely wrong signal. Therefore: Hands off pensions! Cuts to pensions and other social spending lead to great uncertainty and a loss of trust. Such policies drive people into the arms of right-wing populists and endanger social cohesion and democracy. This is a social powder keg.”