Germans losing faith in state pension system

DDP/The Local
DDP/The Local - [email protected] • 4 May, 2008 Updated Sun 4 May 2008 12:05 CEST
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Nearly three quarters of Germans think old-age poverty is likely to be one of the country’s biggest problems in the next few years, displaying a loss of faith in the once legendary social security system.

A survey conducted for Sunday paper Bild am Sonntag showed that only a third of those questioned agreed with chancellor Angela Merkel that the basics will be taken care of by the state.

She has promised, “A collapse in the pensions system will not happen on my watch.”

Seventy-three percent said they thought old-age poverty was likely to be one the biggest problems in the next few years, while that figure rose to 82 percent of women and those between the ages of 50 and 64.

Just 33 percent were convinced there would not be a problem.

Concerning potential solutions, 25 percent said they wanted to see wealthier pensioners get less in order to boost payments made to those in needier circumstances.

Fat cat managers also came under fire, with 68 percent saying they agreed with proposals to legally curb the wages paid to executives. Just 29 percent said they would not like to see such restrictions.

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DDP/The Local 2008/05/04 12:05

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