Sunday, June 13, 2021

Why All This Chatter Over the German Retirement Age?

 Well....it comes down to one curious detail...life expectancy.

In old West Germany of 1960....the general life expectancy was 69.

In 1970?  70 years old.

In 1980? 73 years old.

In 1990?  75 years old.

In 2000?   78 years old.

In 2010?  80 years old.

In 2020?  81 years old.

So you do the math....you added around just over a decade of payments going out, and the system has to react in some fashion.

The current answer in discussion....you make people work an extra year.  Public reaction?  Pretty hostile on the topic.  If you get people up to 83 years old by 2030?  Well....you are just making the problem even worse for Germans contemplating retirement around 2050.  

My solution?  I'd cheapen up tobacco as much as possible, trim back healthcare, and offer a liter of cheap Vodka each day to everyone over the age of forty.  We need to get life expectancy back down to 70 years old.  

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