Foreign Minister Fischer advocates for a mandatory Riester pension - naturally, the reader wonders what the Foreign Minister has to do with it, but never mind:
Federal Foreign Minister Joschka Fischer has spoken out in favor of introducing a mandatory private pension insurance. "The pension system must be affordable. I wish that the Riester pension would finally be introduced in a binding manner and that we encourage people to private provision."
Well, well. Encouraging private provision. To this end, a mandatory participation in the biggest insurance scam of all time - the Riester pension, whose returns are modest and whose payment guarantees are more than questionable.
One could, of course, simply choose a model of a citizen's insurance, in which everyone pays into the state social insurance schemes, without leaving a loophole for higher earners to escape - especially within the framework of great ideas such as the Ich-AG and increased self-employment, the social insurance system is further hollowed out. But that would be an intelligent solution. The state social insurances have the advantage that they are subject to certain rules by the constitution - and the state must ensure that the corresponding services are provided.
Instead, the private insurance industry is further sponsored and, according to Fischer's ideas, even with a mandatory requirement for citizens. Yes, that brings growth, that makes sense. That citizens are simply being taken advantage of and many models are pure extortion, and no payout security is given in any way, we simply ignore for now.
One thing is certain: with the idiocy of our politicians, there will soon be a lot to earn in the insurance industry. Which will presumably have nothing better to do than to gamble our then private forced pensions on the stock market and sell them to hedge funds.