Lindner calls for longer working life and reform of private pension schemes
FDP leader Christian Lindner is calling for an extension of the working life span. "The working life span must increase," he said during a citizen dialogue in Potsdam. "We need to move towards 67 years as a realistic retirement age, even in the short term," he added.
This would be significantly more than the current average retirement age. The statutory retirement age is currently 66 years and is gradually increasing to 67 years. In fact, the average retirement age in 2022 was 64.4 years. The finance minister did not commit to a specific value for a future statutory retirement age.
Lindner justified his proposal with the need for labor force and the necessary financing of the pension system. However, the finance minister also mentioned other necessary measures, such as improving the compatibility of family and career through the expansion of childcare and strengthening immigration in the labor market. "We must increase the labor force potential in Germany," said the finance minister.
Looking at pensions, he also called for a reform of private old-age provision. By the beginning of 2026, there should be a legal regulation to "organize more choice." Employees should be able to choose between the current full guarantee of the paid capital with the Riester pension and "opportunity-oriented" models with higher return opportunities and, for example, only an 80-percent guarantee sum.
In addition, Lindner advocated for projects to build an old-age provision fund, where employees could decide on the composition of their private old-age provision. Tax advantages and state funding would then also be available, for example, for the acquisition of shares and other securities. However, there would then be no guarantee on the paid capital, the FDP politician admitted. However, he considered "the fear of total loss to be irrational".
The finance minister mentioned other necessary measures beyond extending the retirement age, such as improving family and career compatibility through expanded childcare and strengthening immigration in the labor market. Furthermore, Lindner suggested increasing the labor force potential in Germany.
