DAV Chairman: ‘We must not forget the pension reform’

The Chairman of the German Actuarial Association (DAV), Dr Maximilian Happacher, sees a reform of the pension system as a basic prerequisite for Germany's success as a business location and the cohesion of society. "There is no question that the defence capability of Germany and the European countries must be at the top of the agenda of the possible new government and all democratic parties. A good infrastructure is also needed to enable economic growth and thus secure the ability to finance social services without incurring new debt," says Dr Maximilian Happacher. The latest developments and the agreement between the CDU/CSU, SPD and Alliance 90/The Greens to achieve a constitutional amendment that would make it possible to take on far-reaching new debt are the reason for this.

"Under no circumstances, however, should other important and truly crucial challenges not be tackled. To put it bluntly: DAV Chairman: We must not forget the pension reform. This must be coordinated across all three pillars, pass through parliament and be implemented promptly within the upcoming legislative period. Otherwise, not only will the costs get out of hand, but the current younger generations will suffer significant losses later on in the pension phase, leading to increased poverty in old age."

More on this topic on our German Website.