Leading economist Achim Truger has launched a forceful critique of the increasingly heated public discourse surrounding the future of Germany’s statutory pension system, dismissing concerns as “grossly exaggerated” and detrimental to economic stability. In an interview with the Redaktionsnetzwerk Deutschland, Truger accused proponents of alarmist rhetoric of fostering unnecessary anxiety amongst young people through campaigns portraying a looming pension collapse.
Truger acknowledged that contribution increases are likely, stating that the statutory pension will remain the cornerstone of retirement provisions for the foreseeable future. However, he strongly cautioned against the persistent negativity surrounding the system, arguing that such pronouncements create uncertainty and actively damage Germany’s economic outlook. “To speak it down like that leads to insecurity and is, incidentally, also poison for the economy” he stated.
While recognizing the demographic challenges – namely, a growing elderly population relative to the working-age population – Truger believes the current debate lacks a balanced perspective. He insists that a range of policy adjustments can be implemented to maintain the system’s stability, citing the potential inclusion of self-employed individuals, currently excluded from the system, as a key area for reform.
Truger expressed cautious support for proposals linking retirement age to the number of years contributed, but raised potential concerns about the disproportionate impact on women, who often experience career interruptions. “What bothers me about it is that women would be heavily burdened because they usually have larger interruptions in their working biographies” he warned, highlighting a critical potential flaw in a seemingly straightforward solution and a stark reminder of the complexities inherent in pension reform policy. The intervention underscores a growing debate within German political circles regarding the necessity of tempering public anxieties while navigating the challenges of an aging population and ensuring the long-term viability of the nation’s social safety net.