German labor minister, Andrea Nahles yesterday presented her proposals for the reform of the country’s pension policy. According to labor ministry estimations, the changes would cost an extra 4.4 billion euros this year, and a total of around 160 billion euros by 2030.

The new proposals foresee that people will be allowed to take early retirement and a full state pension at 63, in case they had been working for 45 years or more, since age 18. The legal retirement age in Germany is 67, althoug...

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