The state of the current German pension system is highly alarming. The aging society coupled with the prospect of increasing longevity is causing dramatic fiscal strains to the pay-as-you-go (PAYG) financed statutory pension scheme. In order to keep the current benefit level for future retirees,...

Like in many other OECD countries, the population will age rapidly in Germany during the next decades. This undermines the future sustainability of the current unfunded public pension system and motivates the search for reform options. The present paper aimes to evaluate some currently discussed...