Volt on pensions

Volt wants to gradually extend the statutory pension system to civil servants, the self-employed and freelancers, and to guarantee an income above the poverty line in old age. The retirement age would follow life expectancy, and additional retirement saving would become easier.

Volt wants to rebuild the pension system. Civil servants and self-employed people should also pay into the public pension. Nobody should be poor in old age. The retirement age should follow life expectancy. If people live longer, they work longer. Every child should get starting money for retirement saving at birth.

A basic income guarantee would secure an income above the poverty line regardless of a person's work history and top up existing pension entitlements as needed. Care work, voluntary service and other socially valuable activities would count more in the pension calculation. Buying extra pension points, company pensions, funded supplementary pensions and private wealth-building would be made simple and low-cost. The retirement age would be linked to average life expectancy so that the paying-in and payout periods stay in a fair ratio. Young people would be informed early through digital tools and receive a starting budget at birth.

Volt wants to open a state-funded retirement investment account for every child at birth. The state would pay in 1,000 euros to start and then 100 euros each year until the child comes of age. According to the platform, this funded supplementary pension is meant to strengthen security in old age and personal responsibility.

Volt wants a retirement account for every child. The money in it is invested. The state pays in 1,000 euros at birth. Then it pays 100 euros every year until the child is 18. The money is meant to add to the pension later.

Besides the state, the child, the parents and other people may also pay in. During working life, employees can keep contributing, and employers add up to 750 euros a year as part of occupational pension provision. The money has to be invested according to sustainability criteria. Tax-neutral withdrawals are to be possible for life stages such as vocational training or university. Tax incentives are meant to support the choice between an additional pension and a higher payout that uses up the capital.