A later retirement age does only partially alleviate this problem, because the older people get, the less fit they are and the more they are not able to work because of health issues. You’ll have to pay less pensions, but more disability benefits. Regarding a requirement to draw on own personal wealth - great idea, that’s what the Riester program tried to implement, and it didn’t work out. It’s just not possible to build sufficient wealth as a working class citizen. The only working solution is immigration, and immigration is the main factor that German society hasn’t collapsed already. But tell this to the AfD morons.