Germany faces major pension system challenges, says OECD
Spiralling costs for government pensions, a large sector of the population with scant pension savings, particularly poor pensions among women and a group with no pension coverage at all. The latest OECD pension report lays bare the fact that Germany has a steep hill to climb, with pensions in need of far-reaching reforms.
BY LASSE SOLL SUNDE
On retirement, a German citizen can expect a pension of 51 percent of their average salary significantly below the OECD average of 63 percent. Only Mexico, Poland, Chile, the United Kingdom and Japan have worse pension coverage, a new pension report from the organisation reveals.
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