The Limited Times

Now you can see non-English news...

Debate on pensions in Germany – this is how other countries think about retirement

2022-12-23T06:12:24.488Z


Debate on pensions in Germany – this is how other countries think about retirement Created: 12/23/2022, 07:00 By: Marcus Efler Should the Germans work longer? Retirement at 67 – for some much earlier – is a topic of discussion again and again. This is how it is in other countries. Do Germans work too little in their lives? Retirement at the age of 67 is always up for grabs, and business repres


Debate on pensions in Germany – this is how other countries think about retirement

Created: 12/23/2022, 07:00

By: Marcus Efler

Should the Germans work longer?

Retirement at 67 – for some much earlier – is a topic of discussion again and again.

This is how it is in other countries.

Do Germans work too little in their lives?

Retirement at the age of 67 is always up for grabs, and business representatives are calling for a later retirement age.

Above all, the fact that many employees are retiring from working life even earlier is a thorn in the side of some politicians.

CDU man and ex-minister of health Jens Spahn (42), for example, considers the pension option at 63 to be a mistake.

Cheers to the twilight years: who wants to work until they are 70?

(Iconic image) © Juan Alberto Ruiz/IMAGO

Federal Chancellor Olaf Scholz would also like fewer early retirees. However, it is difficult to push through the corresponding changes - after all, (soon) retirees are a large group of voters.

Our pension newsletter informs you every Wednesday about new developments relating to your pension.

Sign up now.

But how does Germany fare in an international comparison?

This was compiled by foreign correspondents for the

ARD Tagesschau

.

  • Germany:

    The normal retirement age is 67 years.

    From the age of 63, you can opt out with a discount.

    So far, however, there were strict rules for earning additional money, which are now no longer applicable.

    Anyone who has paid into the pension fund for 45 years can also enjoy their “golden years” earlier and without a deduction.

  • Austria:

    In the neighboring country there is a pension instead of a pension.

    The contributions for this are higher during working life, but the payments are higher afterwards.

    And they start earlier: at 65 for men, at 60 for women – with their age gradually being raised to 65 as well.

    Those who work even longer receive a bonus.

  • Sweden:

    The retirement age has been raised in recent years and is now at least 63 years.

    However, full benefits are only available at the age of 66.

    From 2026 there will be a so-called standard age of 67, which will then be based on the average length of life and will probably increase.

  • Japan:

    From the age of 65 you receive a basic state pension there.

    However, since many companies want their employees to retire at the age of 60, there would be a pension gap - so that most employees then stay in the job longer, but often in other positions for less pay.

    The government would like to keep them working until they are 75.

  • Spain:

    At 35, the average working life here is three years shorter than in Germany.

    If you have paid in at the age of 37 years and nine months, you will already receive full payments at the age of 63.

    The official retirement age of just over 66 will be gradually raised until it also reaches 67 in 2030.

  • Portugal:

    You can currently retire at 66 years and seven months, but the retirement age is linked to life expectancy.

    Curiously, this leads to retirement three months earlier in the next two years because excess mortality from Corona has reduced statistical life expectancy.

    Earlier retirement is also possible under certain conditions.

Source: merkur

All life articles on 2022-12-23

You may like

Trends 24h

Life/Entertain 2024-03-28T17:17:20.523Z

Latest

© Communities 2019 - Privacy

The information on this site is from external sources that are not under our control.
The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.