[Partial pensions: futuristic social policy innovation or only an alibi?].

The 1992 Pension Reform Act makes it possible that all old age pensions in Germany can be claimed as partial pensions with the objective of extending working life and creating the opportunity of a phased exit from the labour force. Disappointingly little use was made of this new form of flexible retirement. One main reason seems to be the unfavourable labour market situation in Germany, favouring an early exit from the labour force. This article investigates to what extent the design of the partial pension is responsible for its failure and how it could be modified in order to create, in accordance with the new "Part Time Work in Old Age Act", a system of gradual retirement which helps to stabilise the financial base of the pension system.