I noticed a ten-line piece on ARD today (the public TV folks in Germany, Channel One)....which talks to retirements and the government's strategy plan.
The suggestion? Well....they admit the pension is marginally healthy and secure until 2025. But for it to survive?
Well....they suggest you need to work until age 69. Yeah, that's a pretty harsh reality (my German wife will go ballistic when she hears this).
The odds of Germans being healthy enough and sharp enough to accomplish this? Maybe out of every ten, you might find two who have mental and physical requirements to handle it in their chosen profession. The rest would be suspect.
The pension commission was a designed 'vehicle' to discuss things....not to implement them.
If you read through the ARD piece....the German national budget will gain additional burdens of up to € 100 billion in 2040 unless something happens.
While they don't mention it in the the piece, you also have to wonder about the nation having the necessary manpower to run all of the industry, business operations, and requirements.
The willing nature to work until 69? Out of a hundred working class Germans.....I doubt if you can find more than ten who really support this idea. The vast majority would prefer to retire between 60 and 63.
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