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There are two different models for determining retirement age: age or the number of years of social security contributions paid. Which one will win?
In the context of the debate on the reform of the pension system in Germany, the Minister of Labor, Bärbel Bas, considers the idea of ??linking the retirement age to the number of years of contributions paid into the social security fund as possible. "I think the idea is basically quite good," the co-chair of the Social Democratic Party SPD told German media. She referred to a recommendation by economist Jens Südekum, an advisor to Finance Minister Lars Klingbeil, who considers linking the retirement age to the years of contributions to be more fair than linking it to life expectancy.
Two models
Bas explained that there are two different models for retirement age. One possibility is to base the retirement age on life expectancy, or the years of contributions someone has paid into the system. Bas gave an example: "If someone starts an apprenticeship at age 16 and then pays into the social security system for a certain period, they can retire earlier." "While those who start working later, they have to work longer."
This could be bad news for those who study and graduate from university, because they generally start working later than those who do not study but start working immediately after school. Bass said both models will be discussed in the pensions committee.
Decisive today for today is the date of birth
Currently, the retirement age is determined by date of birth and by 2031 the retirement age will gradually increase to 67. People who have paid 45 years of contributions to the social security system are entitled to retire earlier.
According to the Ministry of Labor, for those born after January 1, 1953, the retirement age increases by two months for each year. Those born after January 1, 1964, can retire without pension reduction when they reach the age of 65./ DW
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