Pension System Shift: The Longer You Study, The Longer You Work
- *
Hard-liners advocate for longer work hours for scholars. - Scholars: Diligent Learners Should Maintain Extended Hours of Work
In a bold move, Dr. Danyal Bayaz, the Economics Minister, has suggested extending the retirement age for university graduates to elevate the prolonged success of the country's economy and social security systems. As a graduate of Hohenheim University himself, Bayaz voiced his views to "World" magazine.
Explaining the rationale behind this proposal, the Minister emphasized that academics generally enter the workforce later and encounter less physical strain during their employment. Bayaz believes that this is the only viable approach to preserve and enhance the country's prosperity, including its social security systems.
Bayaz proposed two alternative solutions for achieving this balance: "Those who achieve a bachelor's degree should retire at 68. For those who secure a master's degree, retirement age would be 69." This could be alternatively accomplished by progressively raising the retirement age and enhancing disability pensions, Bayaz continued, which would ensure financial security for individuals who, due to health reasons, are either unable or can only partially participate in the workforce but have not yet reached the standard retirement age.
According to Bayaz, the core objective is to encourage those who are able to work to do so for a longer period. He considers early retirement at 63 less favorable, as it still encourages skilled specialists to retire prematurely. Additionally, Bayaz advocates the abolition of a public holiday, citing it as "a symbolic beginning, a hint that changes are necessary for everyone to maintain prosperity in the country."
- Danyal Bayaz
- Pension System
- Job Market
- Stuttgart
- Dr. Danyal Bayaz, the Economics Minister, proposed a shift in the pension system, suggesting that university graduates should extend their employment years to maintain the country's economic and social security success.
- In arguing for this proposal, Minister Bayaz pointed out that academics typically enter the workforce later and experience less physical strain, making this an effective approach to preserving the country's prosperity.
- Bayaz offers two possible solutions: either graduates with a bachelor's degree retire at 68, while those with a master's degree retire at 69, or the retirement age could be gradually increased and disability pensions enhanced to ensure financial security for individuals unable to work due to health reasons.
