Germany must raise retirement age to 70 to save pension system from aging population collapse.
Go to the source page

Germany's pension system cannot sustain current model with shrinking workers per retiree. By 2060 over one third of Germans will be over 65. Minister Reiche demands retirement age rise to 70 as only solution. Germans currently spend 2/3 adult life working and 1/3 retired which is unsustainable. Germans average 1340 work hours yearly versus 1800 in US hurting competitiveness. Economists state real retirement age should already be 68-69 for stability. Professor Raffelhüschen warns system fails without matching work life to lifespan. Opposition calls proposal disconnected from physical laborers' realities. CDU social wing criticizes ignoring part-time women workers. SoVD labels age hike as hidden benefit cut. France raised to 64 despite protests. Netherlands links retirement to life expectancy. Debate ignores if physical workers can last to 70. Reforms require Bundestag vote and coalition deal. Status quo risks financial and social costs.

Germany Pensions Demographics Economy Politics Europe and the EU

Comments

Be the first to comment!

Join the discussion

Please confirm that you are not a robot.