In the fight against high inflation, economists advocate a further increase in the retirement age. More and more pensioners are faced with fewer and fewer employees. This could lead to further increases in prices.

Economists are calling for retirement at 70 – to cushion rising prices and to link work to increasing life expectancy. The economic researcher Gunther Schnabl told the “Bild”: “The retirement age must rise. Germany already has a huge problem with skilled workers, hundreds of thousands of jobs are unfilled.” As a result, among other things, wages would have to rise sharply in the next few years, making goods and other services much more expensive, said Schnabl.

The Vice President of the Kiel Institute for the World Economy, Stefan Kooths, said “Bild”: “The mix of aging society, high debt and energy transition will become an increasing threat to price stability in the coming years.”

Proposals by the Scientific Advisory Board at the Federal Ministry of Economics and Technology about a reform towards retirement at 68 caused a great deal of excitement last summer. According to the current legal situation, the age limit for the pension will be gradually raised from 65 to 67 years without deductions by 2029.