Berlin – More risk in the statutory pension system? A clear majority of people oppose the FDP’s goal of experimenting with pensions on the capital markets. Two-thirds (67%) of eligible voters reject Federal Finance Minister and FDP leader Christian Lindner’s plan to invest a portion of pension contributions in the financial markets in the future as part of a “stock market pension.” These are the findings of a survey conducted by Kantar Public on behalf of IG Metall. Under the slogan “No roulette with our pensions!”, union members demonstrated on Friday ahead of the FDP party convention in Berlin what they think of the FDP’s plans.
Even a large proportion of FDP voters are skeptical: 42 percent reject this systemic change to finance pension entitlements. 61 percent of FDP supporters even say that, in principle, they have little trust in Christian Lindner when it comes to pension policy. Among all eligible voters, distrust of the Federal Minister of Finance stands at 74 percent.
In general, 90 percent of citizens prioritize security and predictability in the financing of retirement provisions over high returns accompanied by greater risk. And if funds from the statutory pension insurance system were invested in the capital market, 64 percent demand that the insured not bear the risk of losses.
IG Metall warns against allowing the currently planned regulations on “generational capital” to become a precursor to the FDP’s stock-based pension. Executive Board member Hans-Jürgen Urban said: “Investing additional funds from the state budget in a fund to stabilize pension contributions is one thing. But red lines are crossed when pension contributions are used for speculation and pension payments depend on investment performance.”
At the FDP party convention, IG Metall protested against speculation at the expense of pension contributors with a roulette table and a Christian Lindner lookalike (see photo). Urban: “Stock markets are no guarantee of secure pensions. Pensioners need a double firewall: policymakers must protect contributions and pensions from volatile financial markets.”
Instead of risky investments of pension contributions, IG Metall calls for a fundamental restructuring of the pension system and solidarity-based financing of pensions. Hans-Jürgen Urban: “To make the statutory pension system future-proof, we need reforms based on solidarity, not financial market experiments. The introduction of a solidarity-based insurance system for the working population, higher tax subsidies, and moderately rising contributions are the key levers for achieving this.”
Survey: Representative study by Kantar Public commissioned by IG Metall
