Walter Riester

Walter Riester (born 27 September 1943 in Kaufbeuren) is a German politician of the SPD and former Minister of Labour and Social Affairs.

[1] From 1998 until 2005, Riester was a member of the SPD's federal executive board, under the leadership of successive chairmen Gerhard Schröder and Franz Müntefering.

From 1998 to 2002 Riester was Minister of Labour and Social Affairs in the cabinet of Chancellor Gerhard Schröder.

His name is best known for the so-called Riester-Rente, a grant-aided privately funded pension scheme, which was created during his term of office.

In addition to his committee assignments, he was a member of the German delegation to the Parliamentary Assembly of the Council of Europe.