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Germany should consider raising retirement age to 69: Bundesbank

Monday, August 15, 2016 - 20:20
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The German government should consider raising the retirement age to 69 from around 65 currently, or it risks struggling to honour its pension commitments, the country's central bank said on Monday.

[FRANKFURT] The German government should consider raising the retirement age to 69 from around 65 currently, or it risks struggling to honour its pension commitments, the country's central bank said on Monday.

The German state pension system is in good financial health currently but will come under pressure in coming decades as baby-boomers retire and there are fewer younger workers to replace them, the Bundesbank said in a report.

The retirement age for Germans, who currently stop work at just over 65, is currently scheduled to rise gradually to 67 by 2030.

REUTERS