Celebrities are also frustrated with pensions

Celebrities, it is believed, have long since put their eggs in the basket. But many are freelancers. Entertainer Harald Schmidt's "mini-pension" is said to be a measly 272 euros, while Helge Schneider's is only enough to cover his rent. About the misconception that you can live on your pension alone in retirement.

"Dear Ms. Dittrich, this is your artists' social security fund speaking! We hereby request that you submit your tax assessment notices for the past four years to us! We will check whether you have correctly stated your estimated annual income as a freelance author and adjust your contribution rates for the pension fund if necessary."

Zack, that did it! Like many freelancers, not only in the creative field, I am extremely cautious when it comes to estimating my expected annual income.

Dear readers, do you remember the famous quote by the former Federal Minister of Labor, Dr. Norbert Blüm (CDU), who died in 2020 and once said: "Pensions are secure"? I'll put it bluntly, without wanting to sound pessimistic: In view of the current demographic and economic realities, such "forever" promises seem extremely questionable to me!

I haven't just been thinking about this since I was audited by the KSK! When I think about my pension at night, I get scared and anxious. In this context, I read more and more reports that make my hair stand on end. Many people are supplementing their pensions, barely making it through the month. This applies to people who were permanently employed, but also freelancers - especially them! Most celebrities are also freelancers. However, until now I naively assumed that famous artists earn considerably more money than I do.

"I've always paid in a lot!"

The most recent example, which once again blew my mind these days: Helge Schneider. The cabaret artist, who has been on the road a few years longer, to use Thommy Gottschalk's words, recently spoke about his financial situation. Of course, I don't know whether he has made private provisions.

But the 68-year-old said that although he can pay his rent from his pension, he reveals that he has to go back on stage to eat. But one thing is important to the singing gentleman from the Ruhr region, namely to make it clear: "I've always paid in a lot!"

What is a lot for me is probably not much for people like Helge. But the thought of paying in full and only receiving very little (or perhaps nothing at all?) later on worries me. Thoughts that naturally didn't interest me at all in my twenties. Pay into the pension fund in full or make private provision? After all, at the moment it looks as though it's not just the pensions of celebrities that are causing pension frustration rather than retirement pleasure.

A falling birth rate, precarious employment, economic uncertainties, an ageing population and many other factors are leading to a ratio of pensioners to contributors that is no longer sustainable. It seems inevitable that future generations will be confronted with a higher burden in order to be able to continue to finance the pension entitlements of the older generation.

Harald Schmidt's "mini-pension" just a miscalculation?

The returns on pension insurance funds are limited, which in turn leads to a lower return on capital and therefore, I am now pretty sure, jeopardizes the financing of pensions. Will I still receive a pension when I'm as old as Helge Schneider? You only have to look at the controversial issue of a possible increase in the retirement age to answer this question! Even though Olaf, as the Chancellor is affectionately known by his party colleagues, has spoken out against an increase. However, he has probably long known that we will not be able to avoid such a measure in order to stabilize the system. The solution to the problem will simply no longer lie within his term of office. Phew, lucky you.

In the summer of 2022, the legendary entertainer Harald Schmidt made headlines when he announced that he would receive a "mini-pension". Like me, Schmidt was a freelancer most of the time. But just like Helge Schneider, he had paid in full for years. The figure on his pension statement: 272 euros!

The Federal Association of Pension Consultants (BVR) suspected at the time that the pension fund could only have miscalculated with the show host and said that he should actually receive a monthly pension of a thousand euros and a few crumbs. He added that miscalculations in entitlements were not an isolated case and had affected more than 100,000 pensioners in 2022 alone.

Of course, many celebrities have made private provisions for their old age. However, if you take a look at how much is left over at the end of their lives, even for those who you might think don't need to worry, it can't hurt to take precautions yourself. After all, reality is not only far removed from Norbert Blüm's optimistic promise, it has completely abandoned it.

Read also:

Despite their fame and wealth, many celebrities, including entertainers Harald Schmidt and Helge Schneider, struggle with age poverty due to inadequate pensions. This misconception that one can live solely on pension income in retirement is questionable, as demonstrated by Schmidt's "mini-pension" of only 272 euros.

In the face of pension frustration, it's essential for freelancers, including celebrities, to consider supplementing their pension incomes to bridge the financial gap, as the current economic and demographic realities seem to challenge the promise of secure pensions.

Source: www.ntv.de