Population ageing is setting in earlier in Germany than in most other OECD
economies and will be marked.
It could lead to a substantial decline in employment,
weighing on GDP per capita, and will raise demand for health-related public services.
Germany has already implemented far-reaching reforms to mitigate the implications
of ageing for per capita income, well-being and the sustainability of public finances.
Nonetheless, continued efforts are needed to help older workers to improve their
work-life balance and adjust their working hours to their ability and desire to work.
Moreover, stressful working conditions and unhealthy lifestyles contribute to poor
self-reported health and reduce the ability and willingness to work at higher age.
There is scope to promote life-long learning. As the generosity of the public pension
system will diminish, the contribution of private pensions to ensure pension
adequacy needs to be strengthened.