The German ministers for labour and finance presented a reform package on Tuesday that aims to stabilize pensions and slow down the expected rise in contributions. Labour Minister Hubertus Heil and Finance Minister Christian Lindner introduced their draft of a new law which aims to guarantee a pension level of at least 48% of an average wage. The pension level indicates the percentage of the current average wage someone receives as a pension after working and contributing at the average wage for exactly 45 years. If the pension level decreases, pensions will rise less than wages, which creates…