Merz supports raising the retirement age in Germany to 70 years

German Chancellor Friedrich Merz supported the proposals of the expert commission on pension system reform, which envisage a gradual increase in the retirement age to about 70 years by the early 2090s. This was reported on June 24 by The Guardian newspaper.

"Germany will gradually raise the retirement age to about 70 by the early 2090s, in line with recommendations supported by Chancellor Friedrich Merz, as a means of protecting the pension system from an aging population in the future," the publication says.

It is noted that the commission recommended to abandon the existing mechanisms of early retirement. According to Merz, the proposed measures will help avoid a crisis in the pension system amid an aging population and preserve its sustainability for future generations. He also expressed confidence that the reform will reduce the burden on young citizens.

Other proposals of the commission include investing a portion of mandatory pension contributions in the stock market, as well as extending mandatory pension contributions to government employees and the self—employed. Currently, the retirement age in Germany for the majority of future retirees is 67 years, she notedГазета.Ru ".

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On June 22, Bloomberg learned that the ruling coalition of German Chancellor Friedrich Merz intends to support a major reform of the pension system, which involves the introduction of a funded market component, tougher conditions for early retirement and a gradual increase in the retirement age. It is also recommended to cancel the popular early retirement program for employees with 45 years of contribution experience.