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German Federal Bank wants to raise retirement age to 69
TheLocal.de ^ | 15 Aug 2016 16:28 GMT+02:00 | (DPA/The Local)

Posted on 08/15/2016 8:46:16 AM PDT by Olog-hai

As Germans live longer and lower birth rates mean fewer workers are available to replace retirees, the Bundesbank says people will need to work longer in order to meet pension demands.

The German Federal Bank (Bundesbank) said in its monthly report on Monday that by 2060 Germany should increase the retirement age to 69 from the current 65.

The retirement age is already set to reach 67 by 2030, but the Bundesbank said that even with the current favorable financial situation and this increase, “further adjustments are inevitable”.

“At the same time, a longer working life will not be taboo,” said the report. …

(Excerpt) Read more at thelocal.de ...


TOPICS: Business/Economy; Germany
KEYWORDS: bundesbank; eussr; retirementage; socialmarketeconomy
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To: Olog-hai

This is the same bull crap they want to do here. They have stolen my money from the time I was 12 and got my first job and they damn well want to keep it for themselves and those who refuse to work.

Why not just raise the retirement age to 100 and stop lying about how they are here to help us.


21 posted on 08/15/2016 9:07:25 AM PDT by Jim from C-Town (The government is rarely benevolent, often malevolent and never benign!)
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To: Olog-hai

Somebody has to pay for that refugee welfare.


22 posted on 08/15/2016 9:11:22 AM PDT by Billthedrill
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To: Haiku Guy

Those numbers are dependent on retention of the social market economy.

And the Bundesbank is far more influential on both the economy and the government than people unfamiliar with that system may realize. This extends to the eurozone too, what with the heavy influence on the European Central Bank, which is its clone.


23 posted on 08/15/2016 9:12:07 AM PDT by Olog-hai
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To: Olog-hai

One has to make some assumptions about such things.

If society breaks down in the next 10 years, yeah, all bets are off.

This is not so much a matter of the Federal Bank exerting influence as it is math. The fact that it is the Federal Bank that does the math does not change the underlying facts.


24 posted on 08/15/2016 9:15:42 AM PDT by Haiku Guy (The 2nd Amendment immediately follows the 1st because some people are hard of hearing...)
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To: Olog-hai

When SS started, benefits did not kick in until you had outlived the average life expectancy stat.

This is why they are incrementally bumping it up in the U.S. It really needs to be 70.


25 posted on 08/15/2016 9:19:00 AM PDT by Mr. Douglas (Today is your life. What are you going to do with it?)
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To: Mr. Douglas

There shouldn’t be such Ponzi schemes to begin with. They knew that they would be able to do funny stuff with the figures.


26 posted on 08/15/2016 9:20:33 AM PDT by Olog-hai
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To: Donglalinger

No, there is 20% youth unemployment in the EU. There are a lot of young people not pulling the cart.
Europe should be changing its policies to make it easier to hire and fire and start new businesses so that their youth can contribute instead of importing people from an incompatible culture that don’t contribute to the economy either.


27 posted on 08/15/2016 9:20:45 AM PDT by tbw2
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To: Texas Eagle

The hidden elephant in the room is immediately END Monopoly Central Banks. A Federal Bank is a monopoly skimming unearned money from the people.

Let all Central Banks compete for money. People actually own 2 or more homes, but your Central Scoundral skimmed those off you, your retirement gone, then deny your retirement.

This assignment I will leave to others to figure out, but the ripoff is in the hidden math.


28 posted on 08/15/2016 9:21:09 AM PDT by TheNext (Hillary Hurts Children & Women)
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To: EagleUSA

EagleUSA wrote: “Typical. Government spending money that it was not supposed to spend....or wants to spend...so now the people must work longer. Lots of governments having serious accountability problems...”

The problem could more accurately be stated as this: now the people will have to work longer to pay for the free things they voted for in the past.


29 posted on 08/15/2016 9:21:15 AM PDT by DugwayDuke ("A man hears what he wants to hear and disregards the rest")
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To: Mr. Douglas

If Social Security is to be set at Life Expectancy, then the retirement age needs to be 83.

Works for me. Nobody should be counting on Social Security.


30 posted on 08/15/2016 9:22:49 AM PDT by Haiku Guy (The 2nd Amendment immediately follows the 1st because some people are hard of hearing...)
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To: Olog-hai

Stopped reading when I saw this big whopper fool the masses, Big Bank lie:
“the Bundesbank said that even with the current favorable financial situation”

Yeah, the current financial situation in German is so favorable, they’ve stooped to implementing zero / negative bank savings interest rates and Deutsche Bank (their biggest bank) indicates it’s in trouble to the tune of Billions of euros resulting in massive layoffs.

Everything is fine.


31 posted on 08/15/2016 9:25:59 AM PDT by MarchonDC09122009 (When is our next march on DC? When have we had enough?)
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To: Olog-hai

Yes, I make my statement with the thought that it is a good way to phase it out.

And it really needs to be phased out.

Sadly, we have a LOT of entitlements that can’t be phased out. The way they go away is for the country to collapse under their weight. The phoenix that rises from the ashes then starts fresh.


32 posted on 08/15/2016 9:28:27 AM PDT by Mr. Douglas (Today is your life. What are you going to do with it?)
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To: Haiku Guy

If Social Security is to be set at Life Expectancy, then the retirement age needs to be 83.


If they keep bumping it, that could be doable over time. To me, the problem is that I strongly believe that within the next 30 years or so we will have discovered the key to immortality - if the Lord waits, which I doubt very strongly that he will.


33 posted on 08/15/2016 9:31:28 AM PDT by Mr. Douglas (Today is your life. What are you going to do with it?)
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To: Haiku Guy

People cannot work until 70 years old. Some occupations, Govt regulates you out of a job. The other private occupations, age discrimination is an old age ban on work.

In some South American countries, by age 30, you are no longer employable, yes by age 30. In USA, age 55 and over, many are unemployable.

Raise SS age to 120 years old, is one solution.

The solution is simple math. Count everyone over age 65, invert and multiply by the total dollars, i.e. adjust monthly benefit.

This is not rocket science. Adjust the age, eg 70 to steal more SS funds.

Adjust the amount, is honest accounting.

You should notice the lying media NEVER mentions the simple solution, because their intent is to steal more funds.

(The audience cheers wildly, thank you thank you. Lol)


34 posted on 08/15/2016 9:43:59 AM PDT by TheNext (Hillary Hurts Children & Women)
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To: Haiku Guy

Soon to be 68 and meeting with hundreds of my high school classmates; I note the wide variability of how age defends upon us.

Friends once vital are feeble. Some are barely looking fifty. Some are dead and some are new fathers.

Chronological age is a poor judge of when retirement assistance is needed.


35 posted on 08/15/2016 9:50:26 AM PDT by KC Burke (Consider all of my posts as first drafts. (Apologies to L. Niven))
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To: KC Burke

It is true that needs differ by individual.

If only there were some process by which decisions could be made on an individual basis, by the person most interested in the welfare of that individual, about that individual’s life decisions.

That way an customized plan could be created for each one, taking into account the resources available, desired retirement lifestyle, and other factors. The plan could then be implemented, with enough advance time to make success likely.

What would we call such a system?


36 posted on 08/15/2016 10:15:38 AM PDT by Haiku Guy (The 2nd Amendment immediately follows the 1st because some people are hard of hearing...)
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To: Olog-hai

Free up some more migrant money.


37 posted on 08/15/2016 10:16:40 AM PDT by stillfree? (My My My)
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To: EagleUSA
Typical. Government spending money that it was not supposed to spend....or wants to spend...so now the people must work longer.

IF they can find the jobs at 65 to 69 years of age.

38 posted on 08/15/2016 10:37:43 AM PDT by Pearls Before Swine
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To: Olog-hai

Not to fear. There are plenty of new highly skilled and well educated invaders to take the retirees’ positions.


39 posted on 08/15/2016 10:59:45 AM PDT by bgill (From the CDC site, "We don't know how people are infected with Ebola")
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To: Haiku Guy

Personal responsibility.


40 posted on 08/15/2016 2:26:24 PM PDT by KC Burke (Consider all of my posts as first drafts. (Apologies to L. Niven))
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