The question of pension security for younger generations is regularly the subject of discussion in politics and society – however, the President of the German Pension Insurance believes the challenges can be met. “The challenge is smaller than previously predicted,” said Gundula Roßbach to the “Frankfurter Allgemeine Sonntagszeitung”.
“Overall, we expect that the increase in the old-age dependency ratio, i.e. the ratio of employed persons to pensioners, will not be greater in the coming years than in the years 1990 to 2010. The pension insurance system has coped well with this change and has also shouldered the additional financial requirements in connection with reunification.” And since the beginning of the 2000s, contribution rates have also remained stable.
Immigration into the labor market was higher than expected, so more people are paying into the pension insurance system, Roßbach explained.
In addition, life expectancy is no longer increasing as much as before. Pension payments are therefore likely to be extended less. “We are well positioned.”
