Almost 40 percent of employees do not plan to work until the statutory retirement age. This is less due to an alleged laziness of younger people.
Almost 65 percent, or almost two-thirds of employees subject to social insurance contributions in Germany, can imagine working until their statutory retirement age. However, only 57 percent actually want to do so. This is the result of a representative survey conducted by the employer-friendly German Economic Institute (IW) among a good 5,000 employees in April 2024, which was made available to the “Rheinische Post”.
According to the survey, the differences between the age groups are surprisingly small: 66.4 percent of employees under the age of 35 can imagine working until retirement age. Among those aged 50 to 66, the figure is only four percentage points lower at 62.6 percent. In the end, only 59.7 percent of those under 35 actually want to work until retirement age. Among employees over the age of 50, the figure is just over half at 54.5 percent.
17 percent of all employees in the survey said they were neither able nor willing to work until the statutory retirement age. Only 48 percent feel able to do so and would also like to work until retirement age, according to the survey. Around six percent would like to work until the standard retirement age, but fear they would not be able to last that long. Around 14 percent said they could work that long, but would prefer to retire early.
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While age is less meaningful than is usually assumed, the information varies considerably depending on income level: the proportion of those who can imagine working until retirement age is significantly higher among high earners than among low earners. The situation is different when it comes to the desire to work longer: here the proportion is somewhat higher among low earners – presumably for financial reasons. Across all groups, securing the standard of living in old age plays the most important role when it comes to the question of retirement.
The view that one has earned retirement because of one’s life’s work is also widespread, according to the study authors. “This narrative becomes problematic when it is used to derive an expectation that the retirement age should be kept constant across generations and not increased further after 2031, even though life expectancy continues to rise and this results in ever longer periods of pension receipt,” says the Cologne-based institute.
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Enjoyment at work also plays a role that should not be underestimated as a motive for working longer: “Employees who feel full of energy in their work and rarely doubt the importance of their work are around 13.2 percentage points more likely to aspire to work until the standard retirement age than employees with low levels of commitment,” according to the study. Politicians focus too much on financial incentives to increase the retirement age. The survey, however, shows “that health, well-being, commitment and affinity for further training are strong drivers for the willingness to work until retirement age.” By strengthening company health management and more prevention, including in the case of mental stress, early retirement can be prevented.
Note: This article first appeared on ntv.de
Source: Stern
