#retirement #pensionreform
Pay more for pension system? Work more years? What do you think should be a priority in pension reforms?

#EU #europe #pension #reform #retirementage #work #economy #justice #EUcitizens #EuranetPlus…(read more)

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Retirement age in the EU and pension reform

The retirement age in the European Union (EU) has been a hot topic of debate in recent years, as governments grapple with the growing costs of an aging population and the sustainability of pension systems. Many EU countries are facing the challenge of increasing life expectancy and declining birth rates, which means that there are fewer workers supporting a growing number of retirees.

In response to these demographic challenges, many EU countries have been making changes to their pension systems, including raising the retirement age. In some countries, the retirement age has been increased to 67 or even higher, in an effort to reduce the financial strain on pension systems and ensure their long-term viability. This has been met with resistance from trade unions and workers, who argue that increasing the retirement age unfairly penalizes those who are unable to work for longer due to physical or mental health issues.

The European Commission has been pushing for pension reforms in member states, as part of efforts to ensure the sustainability of social security systems and to address the challenges posed by an aging population. The EU’s 2020 Ageing Report highlighted the importance of pension reform, and urged member states to make adjustments to their pension systems in order to ensure they remain financially viable in the long term.

One of the key recommendations made by the European Commission is to encourage longer working lives, in order to ensure that people are able to accumulate adequate pension savings. This has led to discussions about the need for lifelong learning and training, in order to support older workers who may need to develop new skills in order to remain in the workforce.

Another area of focus for pension reform in the EU is the sustainability of public finances, and the need to reduce public debt and deficit levels. Many EU countries are struggling with high levels of public debt, and pension systems are a significant contributor to this. As a result, there is pressure on governments to make changes to pension systems in order to reduce the burden on public finances.

In response to these challenges, several countries have implemented pension reforms in recent years. For example, in 2013, the French government announced an increase in the retirement age from 60 to 62, a move that was met with protests and strikes. Similarly, in 2019, the German government announced plans to raise the retirement age to 67 by 2029, in order to address the financial sustainability of the pension system.

Overall, the issue of retirement age and pension reform in the EU is a complex and contentious one, as governments grapple with the need to ensure the sustainability of pension systems while also addressing the concerns of workers and trade unions. It is clear that changes to pension systems will be necessary in order to ensure their long-term viability, but the challenge will be to implement reforms in a way that is fair and equitable for all. This is likely to be a key issue for governments and policymakers in the coming years, as they work to address the challenges posed by an aging population and changing demographics.