Guest commentary: The Germans are saving themselves poor
The critics of the abolition of the so-called retirement at 63 are achieving exactly the opposite of what they want, thinks Jörg Rocholl, member of the pension commission.
Germans save more than people in any other European country, but their wealth ranks only in the European middle field. They prioritize security over high-yield investments, resulting in lower returns on their savings compared to other European countries. According to the Bundesbank, the lower-wealth half of Germany's population earns a negative real return on their savings, with inflation outweighing interest from deposits. This means that for many Germans, work generates income, but their savings do not generate returns.
Written by urgent.news from Handelsblatt's report — not a translation of it. Machine-written — may contain errors; check the original before relying on it.
