Reform: Long transition period for "pension at 63" would cost millions of skilled workers
The coalition is arguing about the deadline for the abolition of early retirement without deductions. Experts and employers are warning of strains on the job market if there is a long transition phase.
The planned German pension reform's proposal to abolish the "Rente mit 63" (pension at 63) has sparked debate, with the SPD advocating for a five-year transition period. However, experts from the Institut der Deutschen Wirtschaft (IW) warn that this could lead to around 2 million more workers retiring early, exacerbating the growing shortage of skilled workers.
The IW estimates that 1.8 million people would be eligible for the transition rule, allowing them to leave the workforce up to two years before their regular retirement age. This could hinder economic growth and worsen the existing shortage of skilled workers, with the IW predicting a 47% increase in the skills gap by 2029.
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.
