Generational capital: Funds for statutory pensions should largely flow into stocks

The planned fund for the statutory pension According to the responsible investment manager, it should predominantly be in Shares invest. “Due to the return requirements, the share share should go towards 80 percent,” said Anja Mikus, chairwoman of the state fund for financing nuclear waste disposal (Kenfo). World on Sunday.

The so-called generation capital will probably have almost no bonds. “Unlisted investments are also likely to play a role in the future,” Mikus continued.

According to reform plans by Labor Minister Hubertus Heil (SPD) and Finance Minister Christian Lindner (FDP) A new capital stock of 200 billion euros is to be created on the stock market by the mid-2030s in order to gradually create a more sustainable basis for future financing pension to accomplish. The money should come from the federal government. The generation capital is to be managed as a permanent fund by a new foundation. According to the Federal Ministry of Finance, the structures of the existing sovereign wealth fund Kenfo will be used for the development. This was originally created to finance nuclear waste disposal.

“The German state is finally starting to make the capital markets stronger for itself and the… retirement provision of its citizens,” said investment manager Mikus. She emphasized that the statutory pension is not used to gamble on the stock market. It is not about investing money in the short term and selling the securities again quickly. “We invest the funds entrusted to us in the long term globally diversified in order to make the best possible use of the return potential.”

She rejected criticism that the state should also take out loans for this. “Private investors have to pay the borrowed money back to the bank at a certain point in time,” said Mikus. “If prices fall shortly before that, it can cost your existence. The state, on the other hand, can always replace old debts with new ones.”