There's something rotten in Denmark's neighbor. Amid rising islamic terror incidents, Merkel denies any link to her immigration policies... but the government suggests the citizenry arm itself and stash 10 days worth of food and water "in case of attack or emergency," and now, despite constant proclamations of Germany's economy at the heart of European economic 'strength', the Bundesbank is calling for people to work until they are 69 (up from the current retirement age of 62)... and neither the government nor the people are happy.
As Germans live longer and lower birth rates mean fewer workers are available to replace retirees, the Bundesbank says people will need to work longer in order to meet pension demands. As The Local reported last week,
The German Federal Bank (Bundesbank) said in its monthly report on Monday that by 2060 Germany should increase the retirement age to 69 from the current 65.The retirement age is already set to reach 67 by 2030, but the Bundesbank said that even with the current favourable financial situation and this increase, “further adjustments are inevitable”.“At the same time, a longer working life will not be taboo,” said the report.
Because Germans are now living longer and having fewer children, the current system will not be enough to meet targets. Once the baby-boomers have all retired, there will be fewer new workers to fill the gaps and thus fewer contributors into the system - especially since Germany has been seeing lower birth rates in recent years.
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