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Economics Gazette

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November 19, 2019

More than 1.4 million retirees in Germany are still working

retirees Germany workMore than 1.4 million retirees in Germany are still working even in old age. As the media reports on the weekend, about 1.42 million retirees in Germany were working in 2016. In 2000 this number was only 539,000. The random inspections by the Federal Statistical Office show that the majority of working retirees (47.5%) are on a short working day. According to the survey, 24.8% of working adults are self-employed.

The German Institute for Economic Research has meanwhile called for more flexibility for working pensioners.

The experts do not see the danger of shifting younger employees by older workers. Thus, elderly people could increase their retirement rates and employers can acquire experienced workers.

In Germany there are over 17 million people aged 65 and over, which is about 20% of the total population of the federal republic.

Overall, however, the retirees are about 21 million people. About 16.9 million of them are in West Germany, while another 4.1 million are in East Germany. The average monthly pension for men in the end amounts to about 1,100 EUR and for women – 800 EUR.

In Germany the men and women retire at the age of 65, but it is foreseen that by 2029 the retirement age will gradually increase to 67 years. But this increase is already set in the pension fund estimates and it is clear that this change will be insufficient. Hence, experts from the Christian Democratic Union have proposed to retirement age to reach 70 years until 2100.

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