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Business

Social Democrats Mull Minimum Pension

Germany's ruling Social Democrats (SPD) are considering the introduction of a minimum level for pensions. SPD deputy parliamentary group leader Gudrun Schaich-Walch said on Wednesday that parliamentarians want to look into how to guarantee a minimum level for retirement as the center-left government attempts to tackle pensions reform. “We are examining a clause that would set the minimum level,” she said according to German ARD television. She also dismissed calls for making the retirement age 67 instead of 65. Many experts are calling for raising the retirement age since Germany's population is getting older and there will eventually be too few people paying into the social security system.