The reform would also abolish the key early-retirement scheme, after Chancellor Merz accused citizens of not working hard enough
The German government is preparing to back sweeping pension reforms that would gradually raise the retirement age to 70, end key early-retirement schemes and introduce additional contributions to a state-run investment fund, according to local media.
The package, prepared by a commission appointed by Chancellor Friedrich Merz and Labor Minister Barbel Bas, is due to be presented on Tuesday in the latest push to make Germans work longer and harder.
The key elements of the proposal include linking the retirement age to life expectancy and gradually raising it from 67 to 70, according to details first leaked by Bild and Die Zeit.
The popular option of retiring without deductions after 45 years of contributions – the so-called “pension at 63” – would also be abolished. The commission claimed that these early retirees burden pension funds and deprive the labor market of urgently needed skilled workers.
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