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Financing the statutory pensions insurance scheme in a united Germany

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  • Winfried Schmähl

Abstract

This article outlines the development of the predominant scheme of old‐age protection in Germany (the statutory pensions insurance scheme) within the framework of the process of unifying the two post‐war German states. The systems of old‐age protection in West and East Germany had evolved very differently after the Second World War, so that a major transformation was needed. The various stages of bringing the schemes together are described, including the conversion of pensions in the German Democratic Republic when the Deutschmark was introduced on 1 July 1990, the raising of pensions, and the considerable further adjustments that took place later. Finally, the process of applying West German pensions legislation to East Germany is described. This legislation resulted from a Pensions Reform Act which was adopted on 9 November 1989 with the purpose of adapting the system of old‐age protection to changing structural conditions affecting the composition of the population, the economy and society as a whole. The article is completed by a look at the evolution of the financial requirements for pensions insurance over the medium and long term.

Suggested Citation

  • Winfried Schmähl, 1991. "Financing the statutory pensions insurance scheme in a united Germany," International Social Security Review, John Wiley & Sons, vol. 44(4), pages 33-45, October.
    • Handle: RePEc:wly:intssr:v:44:y:1991:i:4:p:33-45
    DOI: 10.1111/j.1468-246X.1991.tb00894.x
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