Shortly before summer break: Unity in reform of occupational pension

Sunday, 28.05.17 , written by Juliane Wellisch After much back and forth, the coalition partners SPD, CDU and CSU have finally agreed on a common line in the company pension law. Until recently, it was not certain that the government would find a solution in time for the summer break. The reform almost failed because of the resistance of the Christian Socialists to the so-called guarantee ban. >

Kurz vor Sommerpause: Einigkeit bei Reform zur Betriebsrente

After the coalition partners have reached an agreement, the occupational pensions strengthening law can be passed by the Bundestag on 1 June 2017. Thus, the last major legislative proposal by Labor Minister Andrea Nahles (SPD) is implemented shortly before the end of the summer break . The CSU had recently objected to the so-called guarantee ban. But now the law provides for the social partner model without compromise .

What is the benefit of the occupational pension reform?

The reform of the occupational pension strengthens occupational pensions from 2018 on various points. Employers who in the future support low paid workers with 240 to 480 euros per year in occupational pensions receive a tax subsidy of 30 percent of the paid contribution. In addition, the occupational pension will in future only be credited in part to the basic pension in old age. The company pension scheme becomes more attractive monthly for those with an income below € 2,000 gross by these two regulations. The reform is also intended to strengthen the BAV with further measures. One of these is that savers can soon pay more money into the company pension, free of social security contributions and tax-free. The new maximum contribution is 5,208 euros.

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Guarantee ban remains: Employer enjoys new liability model

However, the most important aspect of the occupational pension reform remains the social partner model. This should motivate more employers to offer a company pension on their own. They do not give any guaranteed benefits . Instead, they agree on a target pension with the employee. This relieves the burden on employers, who have had to accumulate more and more reserves in recent years due to the low interest rates. Employees can no longer rely on a specific occupational pension, but can only hope that the employer can meet the target pension .

Employers welcome the current solution . Oliver Zander, General Manager of the employers’ association Gesamtmetall, describes the reform as a balanced compromise. It “will encourage more companies to offer their employees a company pension scheme.”

Here you will find tips and further information on old-age provision. >

Juliane Wellisch

editorial staff

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