Friday , January 24 2020
Pension insurance: Sustainability reserve at record level - DER SPIEGEL

Pension insurance: Sustainability reserve at record level – DER SPIEGEL

The Germans' reserve pension Insurance has risen to a new record. At the end of 2018 it was 38.2 billion euros, at the end of 2019 it was 40.5 billion euros according to preliminary results. The new data correspond to the estimates from last summer.

The sustainability reserve thus corresponds to 1.79 monthly expenses, as in the previous year. Statutory pension insurance revenues from contributions from employment rose by 4.5 percent last year – to around EUR 222 billion.

"The positive development in premium income is due to the fact that wages have increased significantly while employment has increased." This is how the President of the German Pension Insurance Federation, Gundula Roßbach, explains the development.

However, the sustainability reserve of pension insurance will be reduced as planned in the coming years. According to estimates, this can the contribution rate will be kept stable at 18.6 percent by 2024,

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