Germany tries to reform its pension system as its population ages
Active retirees, early retirements… In Germany, the government is multiplying its efforts to save the pay-as-you-go pension system — under pressure from an ageing population. Each year, Germany already spends a quarter of its federal budget to cover pension shortfalls — nearly 118 billion euros in 2024. By the end of the year, Parliament is set to vote on a package of laws to keep older people working longer, and to get the young contributing earlier.
Active retirees, early retirements… In Germany, the government is multiplying its efforts to save the pay-as-you-go pension system — under pressure from an ageing population. Each year, Germany already spends a quarter of its federal budget to cover pension shortfalls — nearly 118 billion euros in 2024. By the end of the year, Parliament is set to vote on a package of laws to keep older people working longer, and to get the young contributing earlier.
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