German central bank suggests raising retirement age to 69
Germany's central bank suggested on Monday raising retirement age to 69 by 2060 to ease pressure on the nation's pension system.
The Bundesbank said in its monthly report that Germany's pension system would face "considerable pressure" in the future, as retirees live longer while birth rates remain low, limiting contribution from the working population.
"A longer working life should not be a taboo," the central bank said.
It suggested raising legal retirement age gradually to 69 by 2060. Currently, German workers retire at 65 years old in general. The German government plans to raise the retirement age to 67 by 2030.
