Revolutionizing Retirement for Film & TV Stars in Germany
Enhanced pension plans for numerous screen performers
The German film and TV industry is about to witness a major change! A groundbreaking collective agreement has been struck, setting the stage for a company pension scheme designed exclusively for film and television professionals. This move promises to boost the financial security and retirement prospects for thousands of German actors and filmmakers.
Industry-wide Union Deal
The agreement, forged between powerful trade union Verdi and acting union BFFS, marks an essential milestone for our industry. It introduces a comprehensive pension scheme that will cover approximately 25,000 professionals, both in front and behind the camera, across multiple film and series projects.
Matthias von Fintel, Verdi negotiator, shares his excitement, stating, "This leap forward raises the bar for retirement security among film professionals." The new scheme enables these professionals to build their pensions from a larger pool of projects, regardless of whether they're cinematic masterpieces or the next streaming sensation.
Pension Fund Automation
With the adoption of the Rundfunk pension fund, an almost automatic processing of insurance contracts will become an reality. Once participants choose to join the pension scheme, it will automatically apply to subsequent film projects, minimizing administrative hassle.
Heinrich Schafmeister, a BFFS board representative, explains the importance of this change. Actors, he states, are typically not covered by the Artists' Social Security Fund. Instead, they're hired for specific roles, albeit for brief periods, leading to inconsistencies in pension contributions. He expresses optimism, stating, "With the introduction of this collective agreement, we'll have a mandatory, binding company pension scheme that will significantly improve our post-retirement prospects."
Four Percent Contribution
The new pension scheme will reportedly collect eight percent of industry fees to build the pension pot. Half of this contribution will come from film professionals, with four percent deducted from their earnings, while employers will contribute an additional four percent.
The pension contracts will be managed by the Rundfunk pension fund, which specializes in film professionals and freelancers employed within the broadcasting industry. The fund's chairman, Martin Schrader, calls the agreement a "major stride toward safeguarding film professionals against poverty in old age."
Aiming for Industry-wide Adoption
The negotiators behind the agreement are aiming for a general declaration of applicability, making the scheme relevant for all production companies, not just those bound by the Production Alliance tariffs. By doing so, they hope to ensure that the entire industry benefits from this much-needed retirement boost.
This new pension scheme is a significant step forward for the industry, offering heightened financial security and setting a potential precedent for other sectors across Germany. As we continue to produce groundbreaking films and captivating series, it's comforting to know that we'll also be securing our future.
The groundbreaking collective agreement due to be adopted by the German film and TV industry will introduce a mandatory, binding company pension scheme that significantly improves the post-retirement prospects of approximately 25,000 film professionals. The new scheme, supported by Verdi and BFFS, will be managed by the Rundfunk pension fund, which specializes in film professionals and freelancers, and will collect eight percent of industry fees to build the pension pot, with half of this contribution coming from film professionals themselves.
