A little while ago, The Knife wrote a brief, supposedly jokey piece entitled “German Retirement Age Raised to 105”. Well, here are the facts.
From the CIA statistics on world life expectancy:
Italy 10th 81.86 years
France 14th 81.46
Spain 15th 81.27
Germany 28th 80.19
UK 30th 80.17
Greece 31st 80.05
And from the OECD website on retirement, pensions etc (2011 figures):
Italy retire at 65
France 61 (now to drop to 60 under the absurd M. Hollande)
Germany 65 (now going up to 67)
UK 65 (going up to 67 or 68)
Greece 65 (but if you’ve got only 37 years you can retire on the full whack,
and there are loads of exemptions, so most people hope to retire in their mid-fifties)
Now I know that there is a difference between mean life expectancy, and life expectancy for those who’ve already reached 65, which is higher, but even so, a picture is emerging.
The poor old Germans will be expected to work 7 years longer than the Frogs (who live longer), potentially 10-12 years longer than the average Greek (minutely shorter life expectancy), 2 years longer than the Spaniards (who live longer). At least Italy are sort of behaving.
And the key thing is that in the name of the Euro, all these countries either have been, or expect to be, bailed out by the Germans at truly colossal expense. You may assume that the German economy is fine, given the hype, but growth is minimal and unemployment is 5-6%, so it’s not booming by any means.