German central bank suggests raising retirement age to 69
Source: Associated Press
German central bank suggests raising retirement age to 69
Updated 4:55 pm, Monday, August 15, 2016
BERLIN (AP) Germany's central bank is arguing that the country's retirement age should ultimately be lifted another two years to 69, a call that received a frosty response from the government.
The government decided a decade ago to raise the retirement age from 65 to 67. The increase is being introduced gradually and will apply to all retirees by 2029.
Since then, there have been periodic calls for people in Europe's biggest economy to work even longer. In its monthly report Monday, the Bundesbank said consideration should be given to raising the retirement age to around 69 by 2060 to make sure the pension system is viable as the population ages.
Chancellor Angela Merkel's spokesman, Steffen Seibert, said that the government "stands by retirement at 67."
Read more: http://www.chron.com/news/world/article/German-central-bank-suggests-raising-retirement-9143107.php
groundloop
(11,519 posts)How many people are going to have any significant quality years to enjoy themselves if they work until age 69 (67 is pretty much just as bad)? That's what you get when you let bankers make decisions that effect people's quality of life.
Demobrat
(8,982 posts)until they're 69?
cstanleytech
(26,295 posts)to barely even pay their bills let alone save for a retirement and he works for one of the better retailers.
Mind you I doubt he will be doing his current job when hes 69 as it involves alot of heavy lifting currently.
socialist_n_TN
(11,481 posts)Leaving you 7 (early SS) to 11 years away from Social Security. Most people can't afford to live that long without any sort of good job, so they go through any savings they might have just surviving, then live a miserable existence, IF THEY'RE LUCKY, on a totally inadequate social security check. Then Medicare Part B, IF you live to 65, takes 10% or so of that inadequate check for doctors.
It's a rigged game that most people are forced to cope with. Capitalism's way of regaining any sort of savings that most of us have. I want to change this by any means necessary. That's why I'm a Trotskyist.
Matthew Rose
(66 posts)saidsimplesimon
(7,888 posts)Madame Merkel has opened the doors of Germany to those tired and weary of exile and violence. Her reward, a right wingnut attack from fellow citizens.
I still work nearing 70 years old. The work is more fulfilling as I no longer have any masters.
7962
(11,841 posts)misogyny, rape, female genital mutilation, terrorism, demands for "special" treatment, etc
And she will be OUT of office because of her naiveté
Sherman A1
(38,958 posts)sarcasmo
(23,968 posts)JustABozoOnThisBus
(23,350 posts)"Welcome to Walmart."
sarcasmo
(23,968 posts)Judi Lynn
(160,545 posts)let those who have done the vital, backbreaking work which keeps things moving in their country the chance to rest, and catch their breaths, please!
PaddyIrishman
(110 posts)We had a similar report in Ireland a few weeks ago.
I guarantee you that not one person who contributed to either report has to carry a brick, climb a ladder, cook a meal or work on an assembly line for a living.
if they did, they mightn't be so eager to keep people working until 69.
MrScorpio
(73,631 posts)Javaman
(62,530 posts)The2ndWheel
(7,947 posts)Just too many changes from the time when retirement as we know it was first introduced. People live longer on average. Industrialized countries don't have growing populations, other than getting more people from developing countries, which hurts developing countries. Jobs can increasingly be done anywhere, by anyone. Plus automation is doing nothing but growing.
There's no easy answer. I know, we can tax the rich, but that works until they figure how to not get taxed. Should be an interesting century.
whatthehey
(3,660 posts)The glorious days of comfortable retirements had a burgeoning population of new labor force entrants supporting SSI and a culture which essentially closed most occupations off from women. People complaining about the LFPR always start from the late 70s, ignoring the much lower rates prior to that before working women became the norm.
yellowcanine
(35,699 posts)Not so easy for a blue collar worker to push off retirement to 69.
hunter
(38,317 posts)A comfortable small room, healthy food, free birth control, and appropriate medical care.
Working hard is bad for the environment. Society ought to be encouraging people to discover low energy satisfying lifestyles with minimal environmental impacts.
What we now call "economic productivity" is a direct measure of the damage we are doing to the earth's natural environment and our own human spirit.
Of course bankers don't get it. Their income increases as money streams they control increase. The more money flowing through the system, the more money the bankers and other financial people get.
Expanding economies of the sort we now have are not good things. Shrinking the human population and shrinking our current high energy industrial economy ought to be our goal. If we humans can't arrange that in some comfortable and creative way, then nature will arrange for it in her usual ugly and violent way.
Here on earth, here in reality, exponential growth always ends poorly. This earth has seen many innovative species come and go. We are not the first, nor will we be the last.