Economy

Scholz refuses to consider extending retirement age.

Chancellor Olaf Scholz (SPD) has dismissed demands for a later retirement age. According to him, it's a matter of principles not to deny those who've labored for years the retirement they've earned. Scholz made these remarks in a video released on Wednesday for Labor Day. This year, German...

SymClub
May 2, 2024
1 min read
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Olaf Scholz
Olaf Scholz

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Scholz refuses to consider extending retirement age.

Scholz has cautioned against the unpredictability arising from continuous discussions around the retirement age. The chancellor remarked, "Young individuals starting their professions should also be informed how long they're required to work."

Scholz didn't explicitly point fingers at anyone, but FDP, one of his coalition partners, had suggested getting rid of the retirement age of 63 for those with lifelong insurance at the federal party conference recently. This resulted in disagreements between FDP and the other two government partners, SPD and the Greens.

Scholz considers the introduction of the minimum wage nine years ago and its rise to twelve euros an hour under his leadership to be a significant achievement. He stated, "The percentage of low-paid positions in our nation has reduced as a result."

The chancellor shared concerns about people "who work hard but don't earn enough money." As a result, they receive extra help in the form of housing aid, child supplements, and a decrease in social security fees for low-wage employees.

Scholz praised the present good wage deals. "Wage increases also ensure that employees have more money in their pockets again," he said. "Experts anticipate a significant increase this year: an average of around five percent for salaries."

Work will "continue to be in demand in the coming years," said Scholz. "To the contrary! We need more workers." To make it easier for refugees from Russia's war in Ukraine to find employment, his government is endeavoring to speed up the process. Scholz emphasized, "Work is more than a source of income; it's about belonging, having coworkers, experiencing recognition, and getting appreciation."

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Source: www.stern.de

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