Global Economic Strain Sparks Calls for Universal Pension System
The global economy's strain, largely due to Donald Trump's trade policies, has led to stock market volatility, sparking concerns among investors with retirement savings in stocks and funds. Meanwhile, Michaela Engelmeier, chairwoman of the German Social Association (SoVD), has been advocating for a universal pension system to ensure crisis-proof old-age provision for all.
SoVD initially suggests integrating employed persons not covered by mandatory pension systems into the statutory pension insurance. This includes political mandate holders, civil servants, and self-employed persons. Engelmeier proposes fixing the pension level at 48 percent and gradually increasing it to 53 percent. The SoVD believes this will strengthen the statutory pension system and provide a secure financial future for all.
With the global economy under pressure and stock markets fluctuating, people with retirement savings in stocks and funds are worried. Michaela Engelmeier, SoVD chairwoman, has presented a plan to integrate all employed persons into a universal pension system, aiming to ensure crisis-proof old-age provision for everyone.
