The German Minister for Economic Affairs, Katarina Reiche of the Christian Democratic Union (CDU), has voiced strong support for a comprehensive pension reform package, including a potential increase in the retirement age, to be implemented during the current legislative period.
Speaking to “Bild”, Minister Reiche expressed a sense of urgency, suggesting that future generations will question the delay in addressing an issue that has been recognized for some time. She emphasized the necessity for ongoing dialogue within the current coalition government, comprised of the CDU and the Social Democratic Party (SPD), regarding the need for individuals to work longer.
The call for reform stems from long-standing projections, with academic forecasts dating back to 2005 highlighting the need for a significant increase in working life beyond the current retirement ages of 65 and 67, particularly by 2025. Minister Reiche stressed the need to translate these projections into concrete action.
Highlighting demographic realities as “facts that we cannot ignore” Reiche urged a collaborative approach, advocating for data-driven analysis and the exploration of various levers within the existing pension system. She championed a constructive environment focused on finding solutions rather than assigning blame.