In 2030 or thereabouts, the last of the babyboomers will go on the pension; the following generations are only half as populous, making for drastic consequences
Eight out of ten Germans fear that their pension will not be enough. And with good reason because while we are fortunately living longer, the whole system of old age security is struggling. Alexander Hagelüken, head economics editor at Süddeutsche Zeitung, wades into the debate with a provocative contribution: we are dying later; we are healthier for longer; we are doing less physical work; work keeps us mentally fit; and we may not redistribute the prosperity of our country in favour of the elderly. For the few young people cannot carry the burden alone. Therefore, he pleads for comprehensive pension reform. It also includes the demand, “let us work longer!” Then there will be enough for everyone.
