OECD: Germany to face increasing numbers of poor pensioners

Higher costs to cover state pensions, a large sub-class with few pension funds and particularly low pensions among women, as well as some completely without pension cover. The OECD's the latest pension report reveals Germany as a country in need of extensive reforms going far beyond the pension area.

German pensioners overlooking the Rhine river at Oberwesel | Photo: /Ritzau Scanpix/Henning Bagger

Retiring Germans can look forward to payments amounting to 51 percent of the average salary, which is significantly below the OECD average of 63 percent. Only Mexico, Poland, Chile, Great Britain and Japan have weaker pension coverage. Compared with other developed countries, Germany falls in the lower part of the spectrum on penisons, according to the new figures from the OECD.

This is also related to the fact that German women have a pension coverage that lies 46 percent below that of men, which is mainly due to the prevalance of part-time working among German women.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from AMWatch

Further reading

Latest news

Watch job

See all jobs

See all jobs

Latest news from FinansWatch (dk)

Latest news from EnergyWatch

Latest news from ShippingWatch