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President Bush, at a Labor Department retirement savings conference, advocating changes in pensions.
Changes in pensions have a long-term impact lasting 40, 50, even 60 years.
"My view is the contracts are outstanding contracts over all; in particular they make extraordinary changes in pensions," Mr. Wilhelm said.
The pro-market FDP would nudge Ms Merkel towards tax cuts, a more flexible labour market and, by German standards, daring changes in pensions and welfare.
Based on current trends, the answer is clearly no, not without significant structural changes — in pensions, in taxes, in social benefits, in work rules and in expectations.
Changes in pensions have also hurt those born since the 1970s, with a marked decline in defined benefit final salary schemes for those not working in the public sector.
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The government said about 1.2million people marched nationwide.French Protest Against Changes in Pension System.
She said the Bush plan for changes in pension funds balanced worker and corporate interests.
The company is also proposing changes in pension benefits for future employees.
This is why changes in pension plans so often draw complaints about age discrimination.
Changes in pension funding will boost annual free cash flow by £36m, the company said.
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