Lower Thirds: 

0:03	Report by Jenni Graham

0:27	Friedrich Merz (CDU) | German Chancellor

1:04	Bärbel Bas (SPD) | German Labor Minister

2:22 	Annika Klose (SPD) | Pension Commission Member

((info: It's no secret that Germany, like many other western countries, has an ageing population – but, on top of that, its pensions system is clearly unsustainable. The government wants to introduce reforms to ensure its structures are fit for the future. And, after nearly half a year of deliberations, an expert panel has pinned down its recommendations. ))

Script: 

Here’s everything you need to know about how Germany’s pensions system is changing: 

First off, the retirement age, currently 67, is going up – but not right away. It’ll increase gradually in the coming years. Then, starting in 2041, by half a year every decade. 

That means, by the end of this century, people will be retiring at 70. 

+++Friedrich Merz (CDU), German Chancellor+++ 
It is high time. Doing nothing is not an option.

Pensions remain secure, and the burden is distributed fairly across all social groups and across all generations.

((Es ist allerhöchste Zeit. Nichts tun ist keine Option. 

Die Rente bleibt sicher und die Lasten werden gerecht verteilt über alle gesellschaftlichen Gruppen, über alle Generationen hinweg.)) 

The rules around retiring early are also getting an overhaul. 

Currently, Germans can take early retirement WITHOUT losing out on any of their pension after 45 years of making contributions. 

But this is now going to be scrapped. 

+++Bärbel Bas, German Labor Minister (SPD)+++ 
There’s no cherry-picking here; rather, it’s a holistic approach, because everything is interlinked and you can’t just leave one thing or another out; rather, the fact is that we must now summon the courage to decide whether we want to implement it in its entirety or not. That is now our responsibility.

((Es gibt jetzt kein Rosinenpicken, sondern es ist ein Gesamtkunstwerk, [CUT] weil alles ineinandergreift. Und man jetzt nicht das ein oder andere weglassen kann, sondern es ist schon so, dass man sich jetzt den Mut aufbringen muss, ob man das Gesamt in der Gesamtheit auch umsetzen will oder ob man es nicht will. Und das ist jetzt unsere Verantwortung.)) 

Right now, it is NOT compulsory for certain groups – such as self-employed people and members of parliament – to pay in to the statutory pension scheme. 

Under the proposals, more people will be required to contribute. 

And there will be an EXTRA capital-funded pension scheme – linked to the stock market. That’s been designed to at least guarantee current pension levels, according to the panel of experts and politicians set up to figure out these reforms. 

What do young Germans think about it all? 

WOMAN 1 
On a personal level, it’s a shame. But also understandable. 
((Einerseits, persönlich schade. Andererseits, auch verständlich.)) 

MAN 1 
I don’t think it’s fair that this decision is, in a sense, simply being taken away from us. 
((Ich finde es auf jeden Fall nicht gerecht, dass uns gewissermaßen diese Entscheidung einfach genommen wird.)) 

WOMAN 2 
I don’t want to focus my whole life solely on work. I mean, it’s not a pleasant thought. 
((Das ist jetzt nicht mein Ziel, mein Leben nur auf die Arbeit auszurichten. Also, es ist kein schöner Gedanke.)) 

MAN 2 
What are we even doing this for? What are our prospects later on if we might not really be able to afford anything, even after working our whole lives? 
((Wofür macht man das dann auch? Oder: Was sind halt die späteren Aussichten, wenn man sich vielleicht später nicht mehr wirklich was leisten kann und hat das ganze   Leben gearbeitet?)) 

WOMAN 3 
To be honest, it scares me. We’re all overworked. The people around me are overworked. Somehow, it doesn’t seem like a bright future we’re looking at. 
((Mir macht es, ehrlich gesagt, Angst. Wir sind alle überlastet. Leute um mich herum sind überlastet. Irgendwie ist es keine schöne Zukunft, auf die man erblickt.)) 

Trade unions have criticized the pension commission’s proposals, saying they ignore the realities of working people’s lives. 

But the panel is resolute: 

+++Annika Klose (SPD), Pension Commission Member+++ (in English)
If we don’t do anything then, with the law as it is, the pensions will start getting lower and lower.” [CUT] “It’s not an option, because people pay more and get less.

The issue of pensions is always something of a political hot potato. 

And finding consensus in the governing coalition — made up of the conservative CDU/CSU and the center-left Social Democrats — is never easy. 

Last summer, there was outcry in the SPD ranks when the — conservative — economy minister voiced support for quickly raising the retirement age to 70. 

Chancellor Friedrich Merz will be keen to avoid a repeat of that, and NOT rock the boat with his junior coalition partners.

ENDS