In the debate about the so-called pension at 63, employer president Rainer Dulger warned of a significant worsening of the shortage of skilled workers and the problems of Germany as a business location.

If the baby boomer generation retires in the next few years, companies will risk prematurely losing hundreds of thousands of their most qualified employees every year if the regulation is maintained, said employer president Rainer Dulger in the “Augsburger Allgemeine”. “There are 500,000 more people retiring every year than entering the job market,” warned the President of the Confederation of German Employers’ Associations. “We therefore urgently need to abolish the early pension without deductions, i.e. the so-called pension from 63,” demanded Dulger.

“I am seriously worried about Germany as a location,” emphasized the BDA boss. “Many people in Germany are under an illusion of prosperity and security,” explained. “But Germany has been falling behind economically for a long time. And every day that we do nothing, even more prosperity is lost in Germany.”

Companies are investing less and less in Germany, although around 90 percent of investments have so far come from private sources and not from the state. “We have to ensure that private investments continue to flow,” demanded Dulger. “It is worrying that fewer and fewer investments from abroad are being made in Germany as a business location,” he warned. “The numbers are dramatic. We have had record net outflows of investments of around 100 billion euros per year in the last three years.” Countermeasures must be taken immediately. “Why should companies locate here when political decisions such as early retirement mean that the supply of skilled workers and workers is so low?” warned the BDA President.