The Bundesbank is fully supportive of these efforts, including during the German presidency. Although some details merit further discussion, it became clear today that this package strikes just the right balance between reaping the benefits and mitigating the threats presented by the digitalisation of payments. Olaf Scholz, rightfully, emphasized the strong political will set on these topic.
Most of the recent research, however, suggests that, to ensure an adequate replacement income in retirement, the current level of superannuation guarantee contributions will need to be supplemented by the old-age pension for lower-income households, or by voluntary contributions for those households not eligible for the pension.