Aschaffenburg (Germany), Sep 1 (DPA) Police in the German town of Aschaffenburg Wednesday were called to investigate after a well-dressed 65-year-old man was spotted handing out euro coins on the street.

Wearing a sign round his neck reading ‘I’m not homeless, I’m not unemployed. I’ve got a wife, I’m doing OK. Therefore I’d like to give you a euro,’ the man was reported by a passer-by while he was distributing coins in a pedestrian zone, police said.

Concerned residents feared some sort of con-trick.

Upon questioning the man, however, the Aschaffenburg officers were told that he’d become a pensioner that day, and wanted to let the general public know about his joyful news.

‘As giving money away isn’t against the law, the officers let the freshly-minted pensioner go on his way,’ a police statement said.

Germany has some 20 million pensioners, out of a population of around 80 million. With a quarter of Germans in their golden years, many are arguing that the pensionable age should be raised to 67.

The generous gent may have also carefully chosen the location of his donation: Frohsinn Strasse, which loosely translated means ‘Cheerful Street’.