Date: 5th October 2016
Author:
Type: In the news
VFPK, the association of German company pension schemes, claimed that the ECB’s recent decision to lower its benchmark interest rate has been “tantamount to expropriation from private households and savers”.
According to its chairman Helmut Aden, people “did not have a chance to accrue assets for their pension provision”. He believes the ECB and politicians should “end the hunt for record low interest as soon as possible”.
Mr Aden also pointed to the postponement of pressing reforms and adjustments as a problem. “This inertia regarding reforms would serve as a second blow for future pensioners”.
Please read the full interview here.