German Chancellor Olaf Schulz stated that Germany has already raised the retirement age to 67 years. He stressed that it was long enough, according to what Deutsche Welle reported. He pointed out that a person who leaves school at the age of 17 and begins vocational training must work for 50 years before he can retire. He added that 50 years is a long time.
However, Schulz emphasized that there is no barrier to people continuing to work after reaching retirement age if they want to. He pointed out that all the legal requirements that enable this have already been created. However, as he pointed out, it is more important Improving employment opportunities for people aged 58 to 62 years looking for work.
“Let’s do something about it first, before we start this stupid discussion about retirement age again,” he said.
The Chancellor explained that raising the retirement age would be “inappropriate” and “meaningless.” In his opinion, such a decision will not achieve the desired results and will not solve the problems facing the German retirement system – as Deutsche Welle says.
Regulations currently in place in Germany gradually increase the retirement age from 65 to 67 years. For people born in 1964 or later, the retirement age is already 67 years.
However, according to experts, this solution is not enough to ensure long-term financing of pensions. They point out that because society is aging, in the long run there are too many subsidy recipients and too few contributory payers.
Raising the age
Representatives of the pension fund Deutsche Rentenversicherung (DRV) have long expressed their willingness to talk about raising the retirement age further. However, the current government coalition, consisting of the Social Democratic Party, the Green Party, and the Free Democratic Party, rules out this possibility.
Faced with labor shortages and the need to stabilize the German pension system, business associations and some politicians have long called for increasing the legal retirement age beyond 67 years.
Despite this, there is a surprisingly large number of so-called baby boomers who are currently retiring or plan to do so in the coming years. He expresses his desire to retire earlier. It is estimated that approximately 70 percent of these people prefer to end their professional activity early.
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