Seniors back to work as ageing Germany battles pension burden

 


At age 70, Pete Maie appears nervous at the start of a job interview to work as a part-time parcel delivery driver for a German logistics company. "It's a little stressful but I'm happy to be here," said the former soldier and retired logistics manager, a blue shirt tucked neatly into his trousers. Five years after he formally retired, Maie is re-entering the labour market with the help of specialised recruitment agency Unique Seniors. 

"I'm available immediately and ready to work as long as my body allows," he said. If it were up to Chancellor Friedrich Merz's government, many elderly people would follow Maie's lead to help fast-ageing Germany grapple with the twin challenges of a high pension burden and a shortage of skilled labour. By last year, the cost of the pension system had ballooned to 408 billion euros ($475 billion) according to the Labour Ministry -- a 60 percent rise from 2010. 

Retirees now represent a quarter of the national population of 83 million, and workforce contributions are no longer enough to cover the cost of paying their retirement benefits. Meanwhile, the skilled labour shortage has seen employers as diverse as retail chains, banks and the armed forces compete frantically to attract young workers and trainees. 'Autumn of reforms' For many years, the healthy growth rates of Europe's biggest, export-led economy ensured sufficient tax revenues to finance a generous welfare state.

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