Germany’s pension system is under growing pressure: Many young people doubt they will have adequate financial security in old age, while numerous pensioners are already struggling with rising living costs. The main reason is demographic change — fewer and fewer workers are supporting an increasing number of retirees. The German government is therefore planning a pension reform that includes a state investment fund in the stock market, a higher retirement age, and a broader contribution base. Experts see potential benefits but continue to warn about risks for younger generations and the insufficient fight against old-age poverty.

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