Germany has outright said that the public pension (equivalent of US Social Security) will be have to be cut significantly if the contribution rate isn't increas

Germany has outright said that the public pension (equivalent of US Social Security) will be have to be cut significantly if the contribution rate isn't increased, and the full retirement age has already been raised from 65 to 67, with some discussion about raising it even further to age 69. Germans can elect to start receiving their public pensions as early as 63, with a proportional reduction in monthly benefit. One of the fundamental problems for all pension funds, public and private, is that with longer life expectancy comes markedly increased length of pension receipt. Germany has seen a doubling from about 10 to 20 years of average pension receipt since WWII.