Anyone who is in the middle of their working life today has a sick feeling: more and more retirees are compared to fewer and fewer (working) premium payers. This is not the only problem in the pension system: since 2005 there have been 29 reforms, 18 of which have resulted in billions in additional costs. Economics expert Manfred Schumi from “Krone” explains which ones were particularly expensive.
Since 2005, no fewer than 29 major changes have taken place in the pension system. Of these, 18 have resulted in additional costs, while others are not entirely clear. In 2050, the additional costs will total 27.7 billion euros. The biggest item here is the continued option to leave earlier or after a longer working period (see table).
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
