Retired & Working: Over 1.4 Million Still Employed
Economy / Finance

Retired & Working: Over 1.4 Million Still Employed

A recent survey conducted by the German Pension Insurance (Deutsche Rentenversicherung) reveals a significant rise in the number of retirees remaining in the workforce. Data, released in response to an inquiry by the Left party (Die Linke) in the Bundestag and reported by Ippen-Media, indicates that approximately 1.46 million retirees were employed at the end of 2023. This figure represents an increase from roughly 1.3 million a year prior.

The survey highlights a particularly notable trend: 1.18 million of these working retirees are above the standard retirement age, ranging from 65 to 67 years old. A substantial portion, exceeding 923,000, are engaged in “Minijobs” part-time positions with limited working hours and social security contributions. An additional 278,000 hold positions with increased working hours beyond the Minijob structure. Furthermore, the data shows that over 250,000 individuals began receiving pension benefits prior to their statutory retirement age while continuing to work.

Sarah Vollath, a Member of the Bundestag for the Left party and the party’s spokesperson for pension and old-age security policy, expressed concern over this trend. She linked the rise in working retirees to the concurrent increase in old-age poverty, arguing that individuals should not be compelled to work beyond retirement due to inadequate pension income. Vollath urged the federal government to implement a comprehensive pension reform, suggesting that previously proposed measures have been insufficient to address the issue.