&gt; Germany does not have such a thing as a pension chest. Pensions are directly paid by the working generation.<p>That&#x27;s only the statutory part though. You are advised to contribute to an occupational and&#x2F;or private arrangement alongside the statutory scheme. They operate differently.<p>The underlying problem Germany has is the population dynamics. The population is an ageing one. Lots of people are living longer and not enough children are being born to cover the gap. It might be politically unpopular, but importing refugees and successfully converting them to integrated German tax payers, might well be a long term goal of the state in order to stave off the pensions crisis.