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. Despite saving diligently, the returns on their savings cannot keep up with those in other European countries. The German central bank, Bundesbank, found that the lower-wealth half of the population in Germany even achieves a negative real return on their savings, with inflation outweighing the interest from their deposits. This means that Germans work hard to generate capital, but fail to let capital work for them.
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.
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- Guest commentary: The Germans are saving themselves poor handelsblatt.com
