Particle.news
Download on the App Store

Veronika Grimm Warns Germany’s Finances Could Be Consumed by 2029 After Pension Package

Her forecast says social, interest, defense costs could absorb all revenue by 2029.

Overview

  • The government’s newly approved package fixes the pension level to 2031 and expands the mothers’ pension, which she calls a fatal signal that raises contributions and squeezes fiscal space.
  • Grimm says the federal subsidy to statutory pensions already accounts for about 33% of the budget and will increase further under current policy.
  • She warns that sizable tax hikes appear likely and that companies are weighing relocations abroad, threatening jobs and competitiveness.
  • Reform debate is intensifying, with economist Jens Südekum proposing retirement tied to contribution years and Labour Minister Bärbel Bas signaling openness.
  • Bavarian Premier Markus Söder rejects bringing more income types or groups into the contribution base, as a pension commission prepares reform proposals for next year.