You are absolutely correct 🎯
the pension system was kinda "safe" for the time when it was subject to the funded system - everyone paid for their own old-age provision and the state provided a subsidy - this changed in 1957 when it was switched to the pay-as-you-go system
the system also deteriorated because fewer children were born per household over time, which also reduced the number of future contributors; other factors such as a weak economy and high unemployment were not even taken into account - at this point at the latest, it was clear to thinking people that the system was not sustainable
in addition, the so-called capital reserve was successively reduced and is now laughable - the capital stock is sufficient for 1.7 months
and to top it all off, German pensioners have to pay tax on half of their pension (double taxation!) if they retired after 2005
overall, the German system is reminiscent of a snowball or pyramid system - I.e. a SCAM
R.J. MacReady / mac
npub1t6…t5l7h
2025-05-11 16:26:53
in reply to nevent1q…q38c
Author Public Key
npub1t67z0zen8fn4s5frjevczh62fefqy30suxm2qz3770mqh7qvhl3svt5l7hPublished at
2025-05-11 16:26:53Event JSON
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