BRUSSELS ASK MEMBER STATES TO RAISE RETIREMENT AGE

The European Union Commission has asked member to raise the retirement age to avoid a collapse of the system. The draft document will come up in the commission’s weekly session, which will be held in Strasbourg. According to them, the weak recovery, high unemployment and the worsening public debt situation makes it more difficult to meet their obligations. “Ensuring that the time spent as a pensioner should not continue to increase compared to time spent working, so as to guarantee that the current system remains viable.” For this reason the retirement age must be raised. In the last 50 years, life expectancy in the EU has increased by five years and could increase seven years by 2016. Currently in Europe there are four people working for every retiree over the age of 65, but in 2060 there will be two workers for everyone over the age of 65.

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