Social Security President Fratzscher advocates for a year of public service for retirees - with the aim of bolstering national defense as well.

In a bold move to address the financial challenges facing the German pension system, Marcel Fratzscher, President of the German Institute for Economic Research (DIW), has advocated for a mandatory social year for all retirees. This proposal, dubbed the "Boomer-Soli", aims to ensure intergenerational solidarity and address the burden on the younger generation.

Fratzscher, who is also critical of the lack of action on climate policy, believes that we've known for decades the explosive path we're on and it's time for decisive action. He argues that the Baby Boomers had too few children, which will lead to a significant burden on the younger generation.

The "Boomer-Soli" proposal targets people with high retirement incomes "moderately" and is intended to help stabilize the German pension system. Low-income retirees could be supported, and the risk of poverty in old age could be reduced under this proposal.

Sociologist Klaus Hurrelmann, 81, supports Fratzscher's proposal for a social service obligation for seniors. He suggests that societal tasks such as strengthening defense capabilities should be borne by all generations.

Fratzscher's call for "more solidarity from the old with the young" and a new generational contract is not without controversy. His proposal for a mandatory social year for retirees could face broad protests, as it did when another DIW proposal was made in mid-July.

Fratzscher is not shy about criticizing the older generation. He calls for an end to ignorance, self-centeredness, and naivety, accusing them of ignoring reality for too long. He insists that spending over five percent on defense is necessary to fix the damages caused in 35 years.

The DIW's proposal does not specify how the surcharge would be implemented or the exact amount to be charged. However, it is clear that Fratzscher and others see it as an important pillar for stabilizing the German pension system.

The article was sourced from dpa/msk. Sabine Zimmermann, another advocate for the proposal, also called for mandatory working time for all retirees in July, proposing this as a measure to stabilize the German pension system.

In conclusion, Fratzscher's proposal for a mandatory social year for retirees is a significant step towards addressing the financial challenges facing the German pension system. Whether it will face the same level of opposition as previous proposals remains to be seen.