DAV and IVS on pension reform, pension package, and BRSG II: Reforms can only succeed if they focus on lifelong security and stronger capital coverage

Today, the Federal Council passed two key pieces of legislation aimed at strengthening old-age provision: the Act on Stabilizing Pension Levels and Full Equal Treatment of Child-Rearing Periods (Pension Package) and the Second Act on Strengthening Occupational Pension Provision and Amending Other Acts (Company Pension Strengthening Act II). On Wednesday, the cabinet initiated the Act on the Reform of Private Pension Provision. The German Association of Actuaries (DAV) and the IVS – Institute of Pension Actuaries continue to see a lack of a viable long-term vision for old-age provision and believe that genuine security in old age – through lifelong benefits and capital market-oriented financing – has not been adequately addressed.