OECD: Germany to face increasing numbers of poor pensioners

Higher costs to cover state pensions, a large sub-class with few pension funds and particularly low pensions among women, as well as some completely without pension cover. The OECD's the latest pension report reveals Germany as a country in need of extensive reforms going far beyond the pension area.

German pensioners overlooking the Rhine river at Oberwesel | Photo: /Ritzau Scanpix/Henning Bagger

Retiring Germans can look forward to payments amounting to 51 percent of the average salary, which is significantly below the OECD average of 63 percent. Only Mexico, Poland, Chile, Great Britain and Japan have weaker pension coverage. Compared with other developed countries, Germany falls in the lower part of the spectrum on penisons, according to the new figures from the OECD.

This is also related to the fact that German women have a pension coverage that lies 46 percent below that of men, which is mainly due to the prevalance of part-time working among German women.

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