Rentenpolitik im Angesicht des demografischen Wandels - Problemverschärfung statt Rationalität
Pension policy in times of demographic change: Currently moving backwards
Demographic change inevitably shifts the balance between contributors and recipients in the pension system. Moreover, in the German pension system benefit levels are closely linked to the current state of economic prosperity. Therefore, in the coming decades stabilisation of old-age security cannot exclusively rely on fostering economic growth. Rather, reforms need to be initiated which directly address the endangered demographic balance. Most importantly, workers will have to accept longer lifetime work records, countervailing their increasing life expectancy and the corresponding increase in years of expected pension receipt. Current pension policy in Germany runs counter to this insight, though, leading to even higher reform requirements in the years ahead.
Schmidt, C. (2015), Rentenpolitik im Angesicht des demografischen Wandels - Problemverschärfung statt Rationalität: Pension policy in times of demographic change: Currently moving backwards. Wirtschaftsdienst, 95, 13, 7-15