Germany’s population is on track to decline 10% relative to 2021’s level by 2070, a report from the IFO Institute think tank Tuesday warned—far worse than the 1% decline previously expected during that span. Of much more immediate concern, the age structure of the population will deteriorate far sooner. By 2040, the retirement-age population (67 and older) will have swelled by 30% relative to its 2021 level.