Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/110406
Authors: 
Schmidt, Christoph M.
Year of Publication: 
2015
Citation: 
[Journal:] Wirtschaftsdienst [ISSN:] 1613-978X [Publisher:] Springer [Place:] Heidelberg [Volume:] 95 [Year:] 2015 [Issue:] Sonderheft [Pages:] 7-15
Abstract (Translated): 
Demographic change inevitably shifts the balance between contributors and recipients in the pension system. Moreover, in the German pension system benefit levels are closely linked to the current state of economic prosperity. Therefore, in the coming decades stabilisation of old-age security cannot exclusively rely on fostering economic growth. Rather, reforms need to be initiated which directly address the endangered demographic balance. Most importantly, workers will have to accept longer lifetime work records, countervailing their increasing life expectancy and the corresponding increase in years of expected pension receipt. Current pension policy in Germany runs counter to this insight, though, leading to even higher reform requirements in the years ahead.
JEL: 
H55
J18
J26
Persistent Identifier of the first edition: 
Document Type: 
Article

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