EUROPEAN PAPERS ON THE NEW WELFARE

From Bismarck’s Pension Trap to the New Silver Workers of Tomorrow: Reflections on the German Pension Problem

1. Introduction

The modern world, for all the great advances in most parts of our lives, has created a surprising conundrum: Bismarck’s pension trap. A system to provide old-age security based on an inadequate if not increasingly meaningless measure, the chronological age of the person. Which, to make matters worse, has been kept constant for more than 100 years.
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