Only it doesn’t. None of them work.
It’s the 800-pound gorilla locked away in every country’s closet – for now.
Germany struggles to fix its pension system – Germany’s aging population is putting the country’s pension system under strain. The new Labor Minister Bärbel Bas has ruffled feathers with a proposal for how to fix it.
Good luck with that.
Why should Germany’s?
They are all brilliant systems and they all work the same way: You pay into it your entire working life while your government pumps in ever more money to prop it up and thus burden future generations with massive growing debt (interest rates rock). This Ponzi scheme only works if parents have way more children (at least three on average). It stopped working a long, long time ago, in other words.
Germany struggles to fix its pension system – German society is aging fast and the working-age population is shrinking. There are new plans to make the pension system fit for the future, but critics have said they won’t work.
Observing Hermann 