Berlin More than half of Germans would like to retire before the regular retirement age. According to a survey by the market research institute Civey for the Demography Network (DNN), a good 54 percent of those surveyed would like to retire at the age of 62 or earlier. Just under eleven percent want to work until the age of 67 or longer.
The foreseeable financing problems of the social security systems due to the retirement of the baby boomers and the shortage of skilled workers are well known, says Niels Reith, board member of the DNN, which was founded in 2006 as a network of companies and institutions. “These figures must alarm us all the more that many people see no prospects of working in old age.”
In 2020, 75 percent of men and 68 percent of women aged 55 to 64 were employed in Germany. While the rate for women is close to a record high, it has fallen significantly for men. In 1970 it was still around 84 percent.
However, the average retirement age has risen again in recent years. In 2020, according to the German Pension Insurance (DRV), it was 64.1 years for men.
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For women it was 64.2 years – although the value is statistically somewhat distorted by the expansion of the mother’s pension. However, the gap between the retirement age and the standard retirement age, which will be gradually raised to 67 by 2031, increased again.
Early retirement is likely to remain a dream
Early retirement is therefore still in vogue – even if it is likely to remain a dream for many. Because, as the Civey survey of around 2,500 employees shows, a good 45 percent of those surveyed feel that they have insufficient security for old age. A quarter expect financial security for old age that is “rather” good, and only around six percent see it as “very good”.
Above all, employees without professional qualifications and blue-collar workers are skeptical about their pensions. Broken down by age group, it is primarily the under-30s who are concerned that women are more concerned than men when it comes to distinguishing between genders.
Business psychologist Ulrike Fasbender from the University of Hohenheim, who accompanied the study from a technical point of view, says that the concerns about old-age security are probably also due to the fact that the relationship between those paying into the pension fund and those receiving pensions is constantly shifting due to demographic reasons.
The president of the pension insurance, Gundula Roßbach, also pointed out the problem at the traditional press seminar in Würzburg this week. Demographic change creates a need for action in old-age security, she said, according to the German Press Agency. Today, there would be an average of around 35 people over the standard retirement age for every 100 people of working age. It is estimated that by 2060 there could be more than 50.
That’s why the topic of a further increase in the retirement age is back on the agenda, said the employers’ representative on the federal board of pension insurance, Alexander Gunkel. A political decision should be made by 2026 at the latest, i.e. at the beginning of the new legislative period, he said.
retirement age and life expectancy
Employers and economists close to them, such as the economist Martin Werding, have long been calling for the retirement age to be linked to increasing life expectancy, but they are met with resolute resistance from the trade unions.
>> Read here: Pension insurance is financially in better shape than expected
DNN board member Reith is also skeptical: “It is noticeable that some current debates do not seem to fit with the mood in society.” What is striking about the survey is that there is a there was a clear shift towards retirement.
While last year around 62 percent of those surveyed in this age group wanted to retire by the age of 62, this year it was 73.5 percent. The study authors conclude that this could be an indication of a possible multiple burden for this age group in the corona pandemic.
However, the survey also makes it clear that the willingness to work beyond the age limit increases with age, says Reith. “Experienced specialists in particular are more often motivated to be active in old age.” However, one should take a very close look at who wants to continue working and who has to because otherwise they will not be able to make ends meet.
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