Pensioned Serenity

If there is one area where the European social systems are heading into trouble waters, it is our social pension plans. This BBC article highlights some of the difficulties.

Up until now, the social security, social medical insurance, unemployment insurance, and social pension plan worked, in my estimate, very well. Most pensioned Germans, or foreigners having paid into the pension plan, receive 65% and upwards of their last salary, as a monthly pension. This rate can obviously not be sustained in a country with the lowest birth rate in Europe. In 2030 there will be more elderly than younger people in Germany, unless people start producing like rabbits. Thus far too few people will be supporting far too many.

I sometimes wonder whether we will be the first generation since WWII who will not retire. We’ll just continue working in one capacity or another in order to exist. Our quiet serene Golden Years will be ones of measured toil. The gods willing, may we be mentally and physically able to meet the challenges.