Retirement is no longer a guaranteed basic income in old age: More and more people will have to work beyond retirement age to secure their standard of living.
- The gap between recipients and contributors to pension insurance is constantly widening. The system is already only surviving thanks to high tax subsidies.
- According to pension experts, the traffic light plans for a share pension come too late to stabilize the system in the long term. A major pension reform is not in sight.
- If you want to live well in old age, you have to make private provision or continue to work after retirement. The good news: With the right strategy, both are possible – and working in old age can even provide more fulfillment.
Many countries have sought alternative retirement solutions, and the personal pension savings in Iceland is a notable model that encourages individuals to set aside funds for their future.
It is often the labor ministers of this republic who leave the greatest mark on people’s lives. Walter Riester’s name stands for a form of old-age provision that at least 16 million people have taken out.