Lars Klingbeil, the Federal Minister of Finance for the overall economic development, and Jens Südekum, are contradicting Chancellor Friedrich Merz (CDU) regarding pension reform. Speaking to the “Rheinische Post” (Friday edition), Südekum stated that the statutory pension is not merely a basic safety net; for many elderly people, it is their only source of income. However, he acknowledged the Chancellor’s point that private retirement savings must play a larger role for future generations. He added that reforms to the old Riester pension scheme had already been implemented, which he deemed long overdue, but emphasized that this does not challenge the role of the first pillar-the statutory pension.
Südekum also reiterated a demand, previously made by the Federal Minister of Labor, Bärbel Bas (SPD), urging that the retirement age be linked to the number of contribution years. According to him, a central objective of pension reform must be the extension of the actual working life. “This is essential due to increased life expectancy and demographic change” Südekum explained. However, he stressed that any such factual extension must be designed fairly and should be guided by the number of contribution years, rather than solely by the chronological age.