Publication Date:
Wed, 2010-07-07 17:02
The European Commission said Wednesday that the average retirement age would have to increase from the current age of 60 to 70 by 2060 if workers are to continue supporting retirees at current rates.
Europe is aging as people live longer and birth rates fall gradually.
Governments with mounting debt are hiking retirement ages to help reduce the expected pension shortfall. Germans will retire at 67 from 2029. Spain is considering a similar increase and Britain is planning to hike the age to 68.
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