The Village View

Wednesday, February 01, 2006

New German gov't takes drastic action

Germany will raise the retirement age from 65 to 67 much earlier then originally planned....... now by 2029 (previously 2035). Evidently the "severe strain" on the pensions system prompted this drastic action (what is the Html code to indicate that the previous statement should be read sarcastically?)

We also have retirement system woes here in the States and we're not doing too much about it either. (Sorry, Bush is going to set up "a commission to examine the impact of Baby Boom retirements on Social Security." Another commision outta do the trick!) However, at least here in the US, my full retirement age (currently I'm 32) is already at 67. And why not? My life expectancy is 81.

Sometimes I wonder if the Germans realize the extent to which they are no longer going to be able to afford their post-war social welfare system.

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