BERLIN: The German government has decided against most of the amendments that were proposed for the new second pillar reform law during an extensive consultation phase with considerable input from the German pension industry and other stakeholders.
The new “Betriebsrentenstärkungsgesetz” (final draft in German), which now has an unofficial abbreviation “BRSG”, was presented to parliament on Wednesday.
Industry representatives are still hoping for amendments in this phase of the legislative process given that the government decided to ignore most of their requests for changes to the bill.
The law provides for a new form of pension fund, and with it a pure defined contribution system without any guarantees.
