Inertia creeps: Reformning the German Pension System Download

Description:

“The pensions are secure”, the German people heard throughout the
1980s and 1990s from the then Federal Minister of Labour, Norbert
Blüm. The slogan sums up the placid approach of German politicians to
the “ticking bomb” of demographic change and its effect on the public
pension system.

Forty years ago, just 17 percent of Germans were aged 60 or older.
Today, the proportion is 23 percent. Forty years from now, 40 percent of
Germans will be 60 or over. Germany’s PAYGO (pay-as-you-go)
pension system is already feeling the pressure of this unprecedented
demographic revolution. Contribution rates have risen significantly, but
the system remains in deficit, requiring ongoing government subsidies.

Submitted On:

29 Mar 2007

Submitted By:

admin (admin)

File Date:

29 Mar 2007

File Author:

Jens Meyer

File Version:

v1

File Size:

54.55 Kb

File Type:

pdf

Downloads:

168