Babcock pension fund is threatened with insolvency: pensioners face cuts

The shock for Burkhard Greife came on a Wednesday in May. The pensioner is sitting at the table at home when he opens the letter from the Babcock pension fund. He doesn't think anything bad, what does his pension fund want from him?

But with every line his unrest grows: the cash register writes that they have gotten into “financial difficulties” and there is talk of impending insolvency. And about pension cuts that are now necessary to prevent the worst. Everything has already been coordinated with the financial regulator Bafin.