Proposals in Germany to Raise the Retirement Age to 70 Years

Pascal Riedig, the head of the youth group in the parliamentary bloc of the Christian Democratic Union/Christian Social Union in the Bundestag, sparked controversy after proposing to raise the retirement age in Germany to 70 years.

Riedig explained that the aim of the reform is to "distribute the burdens more fairly among generations," considering that the current system places excessive pressure on the youth.

The official retirement age in Germany is currently 67 years, with the possibility of early retirement starting at 63 years, provided that 35 years of service are completed; however, this option leads to a reduction in the entitled pension. In this context, Riedig called for reducing the attractiveness of early retirement by abolishing the current early retirement system at age 63.

He also emphasized that raising the retirement age should be gradual, in parallel with the increase in life expectancy. He added that future pension increases should be slower and linked to the inflation rate instead of wages, considering this "fairer and more sustainable for the system."

He stated: "It will not be possible to continue achieving significant increases in pensions as in the past unless we are willing to risk the collapse of the entire pension system."

The German pension system is based on the principle of social solidarity, where the pension is determined based on years of service and wage levels, with the possibility of combining government pensions with private pensions and mandatory health insurance.