The German Grand Coalition is about to vote in favor of a law which is increasing the retirement payments dramatically and will also reduce the retirement age to 63 if you have been for 45 in the statutory pension insurance scheme. The whole package will cost until 2030 Around 160 billion Euros. These is a burden especially the young generation has to carry. The statutory pension insurance scheme in Germany needs to be reformed to reinforce generational equity. Therefore we need a broad dialogue with all affected groups to make sure that also in 30 or 40 years the current young generation has a sufficient pension. Thiswill not be the case with the current decision ahead the German Government wants to make. The German Minister for Labour and Social Affairs, Mrs Nahles has made these proposals which are unacceptable fort the young generation in Germany.
