Reports have suggested that the 32-year-old is set to sign a new two-year contract that could eventually see him move into a coaching role.
Schafer told BILD: “I am not going to leave Nurnberg anymore, instead I will retire from the game as a player of Nurnberg.
“I am looking for a few more years in action. I would be able to accept if there is a better goalkeeper around some day.
“I am looking to agree new terms and, as far as things look, I will join the backroom staff of the club after the end of my career as well.”
Bader added: “We have been in talks about a new deal and now it seems as if we have found a good solution. This will satisfy us and the player for some years.”