Germany aims to integrate 63-year-old retirees into job market

Germany aims to integrate 63-year-old retirees into job market

'We should encourage these people to enter labor market with at least a mini job,' says Germany finance minister

By Cuneyt Karadag

BERLIN (AA) - Germany's Finance Minister Christian Lindner on Monday said those who retire at the age of 63 should be employed in short-term jobs.

In an interview with the Funke Mediengruppe, Germany's third largest newspaper and magazine publisher, Lindner argued that 63-year-old retirees have essentially received a bonus.

"There are millions of people who are available to the labor market but are living on social benefits. We should encourage these people to enter the labor market with at least a mini job," he said.

Responding to some economists' demands for more working hours to maintain the country's welfare level, Lindner said: "Why don't we create incentives for people to work longer instead of financing their retirement at the age of 63?"

He rejected proposals for a four-day workweek in the country, stating, debates about the four-day workweek will not help Germany finance its social standards and environmental norms in the long run.

Currently, the retirement age in Germany is 65, but it is gradually increasing to 67.

Starting from 2031, workers will only be eligible for retirement at the age of 67.

To qualify for retirement in Germany, individuals must have paid retirement premiums for at least 5 years.

The right to retire at the age of 63 was previously an exceptional regulation introduced only for those born before 1953 during earlier governments.

*Writing by Aysu Bicer

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