A government committee wants to send Germans into retirement later in order to support the pension fund. DBut that helps in about the same way as if a cancer patient were to swallow globules.
Imagine for a moment that you are an entrepreneur. I know the idea sounds absurd to some, but try changing roles, it’s worth it.
So, you are an entrepreneur, you run a small business, something reputable, where metals are processed. You employ 40 to 50 people, but you are worried about the future. Do you still have enough employees? Are you making a reasonable profit? Are you keeping costs under control?
You talk to an advisor. He paints your future extremely dark, even though your business is currently going well. Workforce? O God. Profits? Just don’t think about it. And then there are the rising costs. The future – a tragedy. But the man says: “I know a miracle weapon.”
They are thrilled.
“And how does it work?”
“It limits your spending.”
They cheer.
“And what good does that do for me?”
Now the advisor becomes monosyllabic. He doesn’t want to speak up, but you persist.
The man finally says: “After 24 years you will save three percent of your expenses and after 50 years you will save five percent.”
Three percent after 24 years? Five percent after almost 50 years?
“This is your magic bullet?”
The man nods.
Would you trust such an advisor?
So, I would chase him off the factory premises.
There is a reason why I told you this example. It roughly describes the scenario that a government commission on pensions came up with. The Council of Experts for the Assessment of Overall Economic Development, also known as the “Five Wise Men”, wants us all to work longer from 2031 onwards.
Retirement age should constantly increase
It’s no longer about retiring at 67 or retiring at 68. The retirement age should constantly increase; If people get eight months older, they should retire six months later.
We work until the grave calls.
Many think how economists talk. They sit at the Bundesbank, at the employers’ associations, in the industrial or insurance temples, in economic institutes, at the CDU, in newspaper editorial offices. Anyone in this country who can spell the word “pension” without accident says: “We have to work longer.”
But hardly anyone asks whether it helps the pension fund at all. There is also surprisingly little about this in the experts’ most recent report. A few incomprehensible curves, a few dry sentences. That’s it.
I wonder why?
I suspect the truth is unpleasant.
Source: Stern
I have been working in the news industry for over 6 years, first as a reporter and now as an editor. I have covered politics extensively, and my work has appeared in major newspapers and online news outlets around the world. In addition to my writing, I also contribute regularly to 24 Hours World.
