Germany faces significant pension sustainability issues as baby boomers retire and life expectancy increases. The current system relies heavily on contributions from the employed to support retirees. New Labor Minister Barbel Bas has highlighted the pressing need for reform, suggesting that self-employed individuals and civil servants, who currently have separate pension schemes, should also contribute to the state pension system. This proposal aims to secure the future of the pension system as the workforce does not grow at a commensurate rate with the aging population.
"We need to involve more people in the financing of the pension insurance," Bas told the newspapers of the Funke Mediengruppe at the weekend."
"The pension system in Germany... is based on a public retirement insurance scheme in which the pensions of current retirees are paid using insurance contributions from the currently employed."
Collection
[
|
...
]