Bremen Mayor Urges Secure Pension to Avoid Living Standards Drop

Bremen Mayor Urges Secure Pension to Avoid Living Standards Drop

Bremen Mayor Andreas Bovenschulte has underscored the importance of securing the statutory pension, warning of significant reductions in living spaces without legal provisions. He believes a consistent policy for productivity, growth, and full employment is crucial for stabilizing the pension. Bovenschulte advocates for a sustainable solution to finance the pension insurance, stressing the need for restraint in increasing social security contributions to avoid overburdening the younger generation. He highlights that the statutory pension is the only form of old-age provision for many people in Germany and the most important source of income in old age for most Germans. He sees a pension of at least 48 percent by 2031 as an important synonym and supports the 'double safety line' - stability in both pension and contribution levels. Bovenschulte believes this will help minimize the risk of poverty and social exclusion for pensioners, especially women. Bovenschulte's call comes as the German Federal Government, under the current administration in office during that year, is set to advise on the pension reform law in 2025. Without a legal provision, the pension would fall below 48 percent, significantly reducing living spaces. Bovenschulte's proposals aim to secure the earned living standard in the course of the statutory pension reform.

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