The German Federal Minister for Economic Affairs, Katarina Reiche (CDU), is advocating for a comprehensive pension reform, including a potential adjustment of the retirement age, to be implemented during the current legislative period.
Speaking to “Bild”, Minister Reiche emphasized the necessity of addressing the issue, suggesting future generations would question the prolonged deferral of a widely acknowledged need. She stated that a consensus on extended working lives will be unavoidable within the current black-red coalition government.
Reiche underscored the longstanding recognition of the challenge, referencing warnings from academics as early as 2005 that indicated a significant adjustment to working ages would be required by 2025. She urged a transition from acknowledging the problem to practical action.
The Minister acknowledged irrefutable demographic realities that demand attention, calling for cooperation and a data-driven approach, avoiding accusatory rhetoric. She highlighted the availability of various levers within the existing pension system that could be utilized to effect change.
