Millions of people will retire in the coming years.
But there is a lack of young talent - with far-reaching consequences for the German economy.
Cologne - More and more experts are warning that the German pension system will soon no longer work.
This could have serious consequences not only for retirees but also for employees.
In the next few years, employees of the “baby boomer” age groups will retire.
In other words, people who were born between 1946 and 1964 in the high baby boom years.
As a result, the pension fund loses an enormous number of contributors - with far-reaching consequences.
Pension: Loss of income as a result of the current system foreseeable
A study by the employer-related Institute of the German Economy (IW) shows that if the system is not reformed, pension contributions will rise to more than 22 percent by 2040.
In 2060 it could even be 23.6 percent.
At present, employees have to pay 18.6 percent of their wages into the statutory pension insurance.
There is also a shortage of workers.
There are already 1.4 million vacancies.
According to IW calculations, there could be a shortage of more than 5 million workers in 15 years.
Michael Hüther, head of the IW study,
therefore urgently
warned
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: “If politicians do nothing, our prosperity will shrink by 326 billion euros by 2035.
For each employee, this means a mathematical loss of income of 4,000 euros per year.
A 'business as usual' costs us all prosperity and cannot be in the interests of politics. "
Pension: Current entry age is not enough
Hüther calls on politicians to act quickly.
“If daycare centers and schools were to be expanded, many parents would be able to work full-time instead of part-time.
Immigrants can also help to close the skilled labor gap somewhat. ”However, the IW also makes it unmistakably clear:“ In the long run it will not work without a longer working life. ”This means that the retirement age should be raised.
The standard retirement age for everyone born in 1964 and over is currently 67 years.
The traffic light parties have already made it clear in their exploratory paper that they do not want to tweak the entry age.
In view of the difficult situation and the numerous warnings, you will have to reconsider that.
(ph)