On 25 October, the delegates' assembly of the major German metalworkers' union IG Metall, which met in Frankfurt, decided to reject any future negotiations on company pensions without guaranteed returns. This decision could "kill" a formula chosen by the chemical sector but which has always had difficulty establishing itself.
In 2018, a law to strengthen company pensions sought to boost the sector by paving the way for pensions with no guaranteed return, negotiable only within the framework of a collective agreement. According to the legislator and the employers’ federations, this appeared the only way to allow pensions to be based on financial products, which while certainly riskier are also more remunerative. Always wary of an option that could, at worst, lead to the loss of the capital contributed, the German...
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Article authors
Thomas Schnee
Freelance