German people who enter the labour market today will have to work until they are 69 if they want the same level of pensions as their predecessors, the German central bank has said.
The Bundesbank, in a report out on Monday (15 August), noted that the state would not be able to keep payouts at current levels of 43 percent of average income after 2050 unless the retirement age went up or pensions contributions increased.
The retirement age is in any case due to rise from 65 to 67 ...
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Already a member? Login hereAndrew Rettman is EUobserver's foreign editor, writing about foreign and security issues since 2005. He is Polish, but grew up in the UK, and lives in Brussels. He has also written for The Guardian, The Times of London, and Intelligence Online.
Andrew Rettman is EUobserver's foreign editor, writing about foreign and security issues since 2005. He is Polish, but grew up in the UK, and lives in Brussels. He has also written for The Guardian, The Times of London, and Intelligence Online.