Ramelow thinks the current pension policy is taking an incorrect path.

Lawmakers discuss and decide on legislative issues. - Ramelow thinks the current pension policy is taking an incorrect path.

Thuringia's Minister President, Bodo Ramelow, expressed his disapproval of the federal government's pension policy using straightforward language. He stated that it is unwise to secure Germany's statutory pension by relying on profits from the business sector at the stock market. In his opinion, "the stock package being introduced is a disaster." This decision, according to Ramelow, will steer the German pension system in the wrong direction.

To avoid this, Ramelow proposed the adoption of a modern citizens' insurance system. This system would require everyone, regardless of their employment status (whether they're workers, employees, civil servants, or self-employed), to contribute to the statutory pension scheme. At present, civil servants and self-employed people normally do not make contributions to the statutory pension system in Germany.

In late May, the federal cabinet approved the so-called pension package II. It includes the introduction of a "generation fund." The FDP had been strongly advocating for its implementation. At the core of this "generation fund" is the notion of the government investing several billion euros into the stock market and hoping for profits to be generated from those investments. These profits would then be used to finance the statutory pension in the future.

Read also:

1. Bodo Ramelow, the Minister President of Thuringia, criticized the German Parliament's reliance on business sector profits for securing pension benefits, expressing concern about the federal government's pension policy.
2. In his proposal to modernize Germany's pension system, Ramelow suggested implementing a citizens' insurance system, requiring all employments types to contribute equally to the statutory pension scheme.
3. Despite Ramelow's opposition, the Federal Government approved the "pension package II" in May, which included the creation of a "generation fund" to invest billions into the stock market to finance future pension benefits.
4. Concurrently, Ramelow's Social Democrats (SPD) in Thuringia's Parliament found themselves in disagreement with the conservative representatives in Erfurt, as the pension policy debate illustrates the divergent perspectives on pension policies between regional and federal levels in Germany.

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