Frankfurt am Main – Employees in Germany want to invest more in the statutory pension fund. They would even be willing to pay higher contributions to ensure a more adequate pension. This was determined by the Verian survey institute (formerly Kantar Public) in a representative survey commissioned by the IG Metall union.
More money for higher pension levels and extra payments into statutory pensions
Only one in ten respondents (11 percent) finds the current pension level sufficient. With regard to the pension contributions that are often discussed, only 9 percent of those surveyed are calling for a lower level in order to keep the contribution rate stable in the long term. Two thirds (67%), on the other hand, demand a higher pension level, even if that could mean slightly higher pension contributions. The pension level is to be stabilized at 48 percent of average income with the federal government’s planned “Pension Package II”.
Employees are even prepared to voluntarily make additional contributions to statutory pension insurance through extra payments. The possibility of making voluntary additional contributions to compensate for pension deductions, which already exists in parts, would be an expandable option for 70 percent of those surveyed to achieve higher personal pension entitlements: 41 percent of all employees would make voluntary additional contributions to the pension fund dependent on equal participation by the employer. 29 percent support the idea unconditionally.
Hans-Jürgen Urban, IG Metall board member responsible for social policy: “Despite all the attacks and chorus songs: The employees want to see the statutory pension strengthened. The pillar of statutory pension insurance is the most important and reliable thing people have in old age.”
Employees want and need to retire earlier
Voters reject the demand for cuts in pensions after 45 years of work. More than nine out of ten respondents (93 percent) are in favor of employees being able to retire without deductions after 45 years of work.
Urban: “Pension policy scenarios that rely on falling pensions and increasing age limits are removed from the reality of life and people’s wishes. Such policies fuel fears of decline, anger and reservations about the political system. The political beneficiaries of such a development are well known.”
The wishes and work realities of employees are diametrically opposed to the discussions in the political arena: When asked about their preferred retirement age, 11 percent want to retire under the age of 60, 51 percent want to retire between the ages of 60 and 63, and 27 percent want to retire between 64 and 67 years. At 68 or older, only 3 percent still want to work.
53 percent of employees do not consider the statutory retirement age of 67 to be realistic under their current working conditions. The lower the educational qualification and thus the professional development, the more unattainable a pension at 67 is seen. Only 23 percent can imagine being able to work beyond the age of 67; 75 percent of those surveyed do not see working for longer periods as realistic.
Urban: “People are rejecting the debate about ever higher age limits. Anyone who increases the retirement age actually only increases the pension deductions for employees. Instead, we need age limits that correspond to the reality of people’s work and lives. And we need employers to finally set up age-appropriate workplaces. “
Survey “Attitudes towards pension 2024”:
Representative online survey (CAWI) among 1,063 respondents (eligible voter population aged 18 and over in Germany), carried out by Verian Deutschland, Berlin (formerly Kantar Public); Quota sample from access panel, weighting according to socio-demographic characteristics; Survey period 22-27. May 2024
You can find the entire study here