Anja Mikus, the head of the Fund for the Financing of Nuclear Technical Disposal (Kenfo), is campaigning for the introduction of a capitalized pension system. She told Spiegel that this reform represents a significant step forward for pensions in Germany. Mikus argues that if the nation utilizes the worldwide capital markets as an additional source of income for retirement provisions, millions of Germans could stand to benefit.
The Retirement Security Commission had already recommended the German government introduce a capitalized pension based on the Swedish model in its report. The question of which institution should manage the investments remains open. The Commission named Kenfo, the state fund currently managing approximately 26.5 billion euros, as a potential candidate, while the Federal Bank (Bundesbank) is also considered.
Mikus stated that while they would like to participate in the success of this capital-backed pension scheme, which institution handles the money is a matter for politicians. In the manager’s view, it is crucial for politicians to define the mandate and establish a clear, reliable legal framework. Only in this manner can the funds be professionally invested to generate good returns, something they have consistently demonstrated is achievable in recent years.
