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“Whenever you find yourself on the side of the majority, it is time to reform (or pause and reflect).”
― Mark Twain
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Pensions Funds Failing Everywhere
Germany’s Council of Economic Experts has recommended gradually raising the retirement age to 73 by 2060 to prevent the collapse of the country’s social security system. The proposal links retirement age to life expectancy and addresses Germany’s demographic decline, low productivity, and economic stagnation.
The plan suggests increasing the retirement age to 69 by 2030, 71 by 2035, and 73 from 2041 onward. The report highlights that fewer than three workers currently support each pensioner, a ratio expected to worsen by 2030.
Alongside the retirement age hike, the experts urge structural economic reforms and investments in high-tech sectors. The recommendation came from a newly formed advisory group under Economy Minister Katherina Reiche and was presented on October 6 as part of a broader growth strategy.
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