Paving the Way for Film & TV Professionals' Future
Boosted retirement plans for numerous movie stars
It's about time for a change in the retirement provisions for the film and television industry, and it's finally here! Trade union Verdi and actors' union BFFS have sealed a deal for a comprehensive industry-wide retirement plan for film and series productions with the Production Alliance. This groundbreaking agreement will go into effect starting July 2025.
The deal primarily targets the approximately 25,000 film and television professionals who work on a project basis, whether they're in front or behind the camera. Matthias von Fintel, Verdi's negotiator, is excited about this agreement, stating, "This will significantly improve the retirement security of film professionals." The new plan allows for pension accrual from a larger number of film projects, irrespective of the medium—be it cinema, television, or streaming series.
A Pivotal Moment for the Industry
Verdi and BFFS agree that this is a significant milestone in offering a safety net for film professionals, who have often struggled with inadequate pension provisions due to their project-based employment. “For actors, the Artists' Social Security Fund does not offer adequate protection. They are not self-employed but are hired for roles, even if only temporarily and for very short periods," explains Heinrich Schafmeister from the BFFS board. This new occupational provision, set to kick off on July 1, 2025, willl fill that gap.
A total of 8% of fees will be allocated for the retirement provision build-up, with film professionals contributing 4% and the employer adding an additional 4%. The pension fund Rundfunk, which specializes in film professionals and freelancers from broadcasting, will manage the contracts. The chair of this fund, Martin Schrader, views this agreement as a "milestone in securing film professionals against old-age poverty."
The production alliance's negotiating committee envisions a future-oriented film and television industry by implementing this collective agreement industry-wide. They aim to secure a general declaration of applicability, making it applicable to all production companies beyond those falling under the alliance's collective agreement. Making the industry more attractive to talented professionals and newcomers is essential for its continued growth and success.
This new occupational provision, set to commence on July 1, 2025, will steer the film and television industry towards improved finance and lifestyle for its professionals, as highlighted by Martin Schrader, the chair of the pension fund Rundfunk. Furthermore, this agreement will reinforce the business feasibility of the industry, making it more alluring for talented professionals and newcomers by offering a comprehensive retirement plan, thereby ensuring a steady influx of skilled individuals in the future.
