NewsEconomicsGermany: Minister of Labor, no raising the retirement age

Germany: Minister of Labor, no raising the retirement age

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German Labor Minister Hubertus Heil today rejected the economists’ proposal to raise the retirement age to mitigate high inflation. “What I think is right is a flexible transition to retirement. That’s fine,” said the minister in statements published by the media group Funke. “But only those who live in another world can think that those who work in a steel mill or at the supermarket checkout, as a policeman or a nurse, should work up to 70 years,” Heil said. “In the (ruling) coalition we have agreed that we will not increase the statutory retirement age. And that will not change,” added the minister. The debate on extending working life has recently re-emerged in Germany. Economists are in favor of a significant increase in the retirement age, also as a measure to cushion the rise in prices. “I think it is a phantom debate to want or aspire to work until the age of 70. with the reality of life for many people in Germany, “Heil said. Current legislation requires the age limit for retirement without deductions to be gradually raised from 65 to 67 by 2029.

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