On Wednesday 14 September the government approved a draft law on flexible retirement (Flexirentengesetz). The Christian-Democrat’s flagship project acts as a counterbalance to the Social-Democrat’s official retirement age at 63 for those having worked lengthy careers. The goal is to allow workers approaching the end of their careers to more flexibly manage their transition towards retirement. By making the cumulative employment-retirement option more financially attractive the law also looks to encourage workers to carry on working for longer. Going forward, workers at pre-retirement stage and working part-time as well as those at retirement age and still working will be able supplement their pensions. The future law is expected to come into force on 01 July 2017, three months before the Federal elections.
Greater room for maneuver. According to the government the number of retirees willing and able to continue working does not stop rising. At the end of 2014 the Federal Employment Agency counted more than one million such retirees. The rising number is explained by longer life expectancies and a series of factors including the fact that retirees want to keep in shape and in touch as well as wanting to pass on their experience receive recognition and raise their incomes.
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