Germany has the oldest working population in the European Union, official data showed on Tuesday.

The figures from Eurostat, published by Germany’s Federal Statistical Office, showed no other country in the EU has a higher proportion of people aged between 55 and 64 in employment at 24%.

The EU average is 20%, and in some countries, such as Malta, it is as low as 11%. Italy, at 23%, and Bulgaria, at 22.3%, also have above-average working populations.

One important reason for this development is the increasing ageing of the population in Germany. In addition, people are retiring later on average.

Data from the German Pension Insurance Fund showed employees retired at an average age of 64.7 in 2024, up from 63 two decades ago.

In the meantime, the statutory retirement age has been gradually raised and early retirement schemes have been phased out.

Germany’s ageing working population poses a serious challenge for the economy, which is increasingly reliant on foreign skilled workers to fill vacancies.

German Chancellor Friedrich Merz’s administration has meanwhile introduced “active retirement,” a scheme for employees to benefit from €2,000 ($2,361) tax-free per month if they continue working beyond the statutory retirement age.

dpa