The big coalition in power has set, on October 24th, 2006, the details of its retirement reform, which provides for a gradual increase of the legal retirement age from 65 to 67 years old between now and 2012. Very criticized by trade unions, the agreement will soon be converted into a bill, which will be adopted on November 29th by the government and submitted to the Bundestag. The reform, which does not require the Bundesrat 's agreement, must come into force in spring 2007. (Ref 061064)
This agreement constitutes “a decisive step” to consolidate the retirement system, affected by the falling birth rate and the increase of life expectancy, said Angela Merkel. The trade union Ver.di reminded that older workers’ activity rate was already “extremely weak”, and rejected the reform. For Ver.di retirement at 67 ” mainly means more unemployed people, and longer “. The reform follows a double objective: to limit the increase in mandatory contribution rates for pensions (20 % until 202
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