Nice Work If You Can Get It

It seems that German politicians can expect golden parachutes. Maybe even platinum ones.

Many thanks to Hellequin GB for translating this article from Bild:

“Pension With 60” ++ €1100/Month Per Year of Work

You have to be an ex— (Government) Minister ! An average earner would have to work for 132 YEARS

Pension from 60, more than 1100 euros per month on account and mini-deductions in the event of early retirement! Sounds like a pension land of milk and honey, but it really does exist: You would have to be a minister of the outgoing federal government…

There are these extra special pension favours for departing ministers. Amount: After four years of office, there is currently around €4500/month as a pension — so €1100 per year [of work]. If the Bundestag is dissolved prematurely, the pension is already available after two years of office! For comparison: an average earner would have to work for 132 YEARS!

Retirement age: Officially, ministers also have to raise their retirement age to 67 years. But: on request, you can collect your pension at 60. In comparison: employees can only retire after 35 years of work, at 63 at the earliest.

Nine of the ministers still in office could benefit from the “retirement at 60”. Including the Union Ministers Helge Braun (Chancellery), Anja Karliczek (Education), Julia Klöckner (Agriculture), Andreas Scheuer (Transport) and Jens Spahn (Health).

Discounts: These also exist for ministers, but they are capped at 14.4%. If ministers were treated like retirees, the discount would actually have to be 25.2% if retirement were brought forward by seven years. Even in politics, the pension privileges for ministers are viewed critically. The FDP applied for the abolition of some extra special pension favours last year, but failed in the Bundestag. As a likely future ruling party, it could now ensure that the federal ministers also arrive at the pension reality.