Despite the rise in life expectancy, hope such workers will still be active at 69 to justify their pay?
Source: The Local
Economy Minister and Vice-Chancellor Sigmar Gabriel was swift to condemn it, saying: “A factory worker, a shop assistant, a nurse, a care-giver would find this idea nuts. So do I.”
The offending idea is a passage in this month’s Bundesbank report, which noted that “the currently satisfactory financial situation of public pension treasuries should not distract from the fact that other changes would have to be made to ensure its sustainability”.
And what the bank proposed to ensure stability of the pensions system is a further gradual increase in the legal retirement age, already set to go from 65 to 67 by 2029, to reach 69 years by 2060.
Life expectancy in Germany at present is 78 for men and 83 for women, and it is continuing to rise.
Even if Germans are increasingly delaying their retirement, the effective age when most leave employment is 62.
That…
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