Let me summarize once more: the existing pension fund is designed according to the principle of cost minimization - a public administration, control apparatus and essentially legal protection (except when a chancellor dips into the pension fund for reunification, but that's a different story). The advantage of such a public institution: it is controllable (at least if politicians and federal government institutions do their job) and the government can exert direct influence (which brings us back to the chancellor with his blooming imagination, sorry, blooming landscapes).
On the other hand, we have large insurance companies whose orientation has a single goal: profit maximization. Makes the shareholders happy - customers are only of secondary interest. Besides, of course the employees of the insurance companies need to be paid. And the boss needs his million-dollar severance. And a new company car for the procurator is also due, just like the beautiful ostentatious buildings in the insurance districts of major German cities. And government influence? No influence, except through legislation. Securing pensions? No special provisions (of course, the legislator could ensure that - but that would then be an impermissible intervention in the economy, huge fuss about the business location, massive protests about competitive disadvantage...).
Rüttgers now wants to force all citizens to put money into a second pot to balance the money he wants to take from them from the first pot. Money should flow out of controllable and state-run pots into uncontrollable pots subject to economic arbitrariness. Because it's guaranteed to become cheaper for consumers when a structure oriented toward cost minimization is replaced by one oriented toward profit maximization.
In the Ruhr Valley, workers take to the streets against the state and for their business bosses - because they want to protest against emissions trading regulations. No one there seems to care about their pension...
The original article is available at tagesschau im Internet.