IMF wants Germans to retire later, save less & spend more..embrace your slave life!

Follow The Money

The International Monetary Fund has urged German authorities to raise the effective retirement age above 67, saying an aging population could work longer and hence save less and spend more.

“A pension reform encouraging people to retire later in life would reduce the need to save for retirement, encouraging consumption and thus reducing the surplus,” said Enrica Detragiache, an IMF expert on Germany, as quoted by CNNMoney.

Some economists have criticized Germany for going in a different direction in 2014 by lowering the age at which Germans can retire to 63.

The German Council of Economic Experts warned at the time the change would cost the country an extra €10 billion ($11.4 billion) per year.

The regulator repeatedly called on Berlin to increase investment at home and reduce its large current account surplus, which comes from made-in-Germany exports to global markets.

According to the IMF, Germany’s large current account…

View original post 144 more words


Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out /  Change )

Google+ photo

You are commenting using your Google+ account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )


Connecting to %s