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More Germans than ever take early retirement
Published: 31 Jan 13 15:10 CET | Print version
Online: http://www.thelocal.de/society/20130131-47683.html
More Germans than ever before are taking early retirement, according to new figures released on Thursday. A record number put their feet up early in 2011, opting to take a reduced pension in order to enjoy more free-time.
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Health-workers, teachers and truck drivers were among those most likely not to work up to the retirement age of 65, said the DRV. More of those stopping work early were women, the figures suggested, with the share of female early retirees up from 36.1 percent to 51.7 percent in 2011.
Whether the trend is a result of workers opting for a reduced income in return for more leisure time in their 60s is hard to determine, as no definite statistics exist on why people stopped work early. Some workers could have been forced out or encouraged to take early retirement when firms cut jobs.
However, the statistics did show that many workers taking retirement early had been ill or unemployed previously, whereas others had worked up enough money to afford the drop in income.
In general, those retiring early had earned above average salaries while working, while many others had inherited substantial sums.
But it could mean few people receive their full pension in the future, as Germany is in the process of slowly hiking its retirement age to 67.
DAPD/The Local/jlb
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Your comments about this article:
More people in early retirement cause now retirement is at 67, before was at 63...
Second, those guys have to retire earlier as there is no job for them...
I have many examples in my company.
All the best
You have been warned.
Ok if one was to get a decent Pension. But Governments just don't want to pay. They are All too busy just taking......