Short version of the article „Mehr Kapitaldeckung ohne mehr Staat“, published in the print edition of the F.A.Z. on October 6, 2026 (and online on October 14, 2026).
In German pension policy, the diagnosis has been clear for about thirty years. Yet some of the key treatments keep getting postponed. The report of the pension commission (Alterssicherungskommission) is a pleasant surprise. The experts state the demographic arithmetic plainly, propose binding rules, and take on two politically contested topics: the retirement age and a mandatory funded component within the statutory pension system. There is much to commend.
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