Over a million former workers have transitioned into retirement.
In Germany, the trend of elderly people continuing to work beyond typical retirement age is on the rise. Recent data, reported by Redaktionsnetzwerk Deutschland, reveals that as of December 31, 2023, over 1.4 million pensioners are employed, with approximately 375,000 of them working more than part-time.
The data, which comes from the federal government's records, does not differentiate between part-time and full-time employment status but does indicate a notable shift in the labor market participation of the elderly. Dietmar Bartsch, a budget policymaker from the Left Party, requested the information from the German Pension Insurance.
According to Eurostat data from 2023, about 10.2% of old-age pensioners aged 50 to 74 were employed, with more than half of these working in self-employment. This suggests a significant trend of pensioners engaging in work, often on a part-time or flexible basis.
The aging population in Germany reached 22.3% in 2023, reflecting a demographic shift that is increasingly participating in the labor market. The working pensioners' participation likely includes both full-time and part-time employment, but part-time work is generally more common among older workers due to flexibility and health considerations.
The wider context shows that pension reforms and rising pension contributions may influence pensioners' decisions to remain employed for financial reasons. For instance, the long-term care insurance contribution increase, effective in 2025, could potentially motivate pensioners to continue working to offset these increased costs.
It is important to note that the data does not provide information on the industries or professions these employed pensioners are working in. As new data becomes available, a more comprehensive understanding of this trend can be gained.
In summary, the trend in Germany as of the end of 2023 is that a growing segment of pensioners continues to work, with about 10.2% of older pensioners employed, a majority of them self-employed. While specific numbers for full-time versus part-time working pensioners are not provided, part-time work is prevalent among this group due to the need for flexibility and supplementary income.
The data suggests a significant trend of pensioners in Germany engaging in work, often on a part-time or flexible basis, possibly due to financial reasons arising from pension reforms and rising pension contributions. Many of these pensioners are self-employed, indicating a shift in the business landscape towards older entrepreneurs.
