Retirement at 70 can no longer be prevented? “Pension fund is about to collapse”

Retirement at 70 can no longer be prevented? “Pension fund is about to collapse”

8/3/2022 at 7:02 am

Highest pension increase in the West in forty years

The federal cabinet has decided on a significant increase in pensions: In western Germany, pensions will rise by 5.35 percent on July 1 and by 6.12 percent in the east – in the old federal states it is the highest pension increase in almost forty years.

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Just a summer slump topic – or is a pension policy hammer looming here? The discussion about the pension at 70 runs hot. For some this is “anti-social bullshit”, for others it is a necessary step.

More and more voices are calling for raising the retirement age.

Is it mandatory to retire at 70? “Pension fund is about to collapse”

After his advance, in view of the aging society pension to only be considered from the age of 70, Gesamtmetall President Stefan Wolf is now receiving support from economics expert Professor Bernd Raffelhüschen opposite the “picture”.

Wolf had also argued that the reserves in the social security and pension funds will soon be exhausted due to demographic change: “We will gradually have to raise the retirement age to 70 years – also because the age continues to rise.”

Pension: Strong criticism of the retirement age of 70 – “anti-social bullshit”

Monika Schnitzer, one of the “economic wise men” in Germany, also thinks the move is the right one. “In order to secure your pension in the future as well, there are three adjustment screws: retirement age, contribution amount and pension amount. You will not be able to avoid turning all three screws, if we don’t want to overload future generations,” said the Munich economics professor at the Funke media group.


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Trade unions, social associations and left-wing politicians have massively criticized the proposal. Ultimately, it is about a pension cut, because many people could not work at 70 years of age.

From this political spectrum comes the demand that the group of contributors should be expanded – that is, civil servants and the self-employed should also pay. Left parliamentary group leader Dietmar Bartsch even described Wolf’s proposal as “antisocial bullshit”.

The debate about pensions is also an emotional one. It remains to be seen if it will continue to make waves after the summer break.

Source: Derwesten

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