https://www.dw.com/en/germany-debates-raising-retirement-age…
An aging population, a dramatic labor shortage and a pension pot shortfall are an explosive mix for German economy and society. Would raising the age of retirement to 70 kill all those birds with one stone?
Germany is reporting a record number of job vacancies in the first quarter of this year the number jumped to an unprecedented 1.74 million open positions. That number was the highest since reunification 30 years ago.
At the same time, Germany also has a record shortage of young people.
One proposed solution is to raise the retirement age to 70.
Trade unions, social groups, and left-wingers reacted with fury
Currently, Germany is in the process of gradually raising its retirement age from the previous 65 to 67 for those born after 1967.
Economists have been warning since as far back as the 1980s that Germany’s pension system is facing imminent collapse.
Geyer believes people in work can expect to see a rise in contribution rates to the pension pot. He predicts a rise from the current 18.6% to well above 20% by 2025.
Demographic Transition Model:https://populationeducation.org/what-demographic-transition-…
Stage 4:https://populationeducation.org/stage-4-demographic-transiti…
Stage 5:https://populationeducation.org/stage-5-demographic-transiti…
Of course other nations than Germany are facing aging demographics pressure.
https://www.morgancountysurveyor.com/blog/what-stage-is-mala…
Stage 4:Argentina, Australia, Canada, China, Brazil, the majority of Europe, Singapore, South Korea, and the United States
Stage 5:Croatia, Estonia, Germany, Greece, Japan, Portugal, and Ukraine are examples of countries that might be considered Stage 5 countries. It is predicted that each of these countries will have negative population growth, however this has not always been the case…