The return on the statutory pension is a bet on real wage growth

Complaining about pensions is a daily occurrence here, but the Council of Experts aka Economists and the Institute for Macroeconomics and Economic Research postulate slightly positive real returns (in some cases even ~2% real for those born after 1990) for the DRV. At first I think that's subjective nonsense, which is why I tried to find out what my IRR, i.e. internal rate of return, might look like for the statutory pension. Assumptions: - 33 years old now, started paying into the DRV at 26 - no