Reform Options for Statutory Pension Insurance

Demographic change and thus the ageing of the population is progressing rapidly in Germany. A reform of the statutory pension insurance (GRV) is therefore becoming increasingly urgent, with the German government already promising in its 2021 coalition agreement that “pensions must be reliable and adequate”. Most recently, the German Council of Economic Experts presented several reform options in its annual report, which are intended to ensure adequate old-age provisions with sustainable nancial viability. However, these proposals were not without objections within the Council. The question therefore arises as to how the statutory pension scheme can be reformed to ensure that adequate and a ordable pensions are nanced in a stable and sustainable manner.