Wednesday, July 11, 2012
Changing retirement ages in the Euro zone
The Washington Post reports on rising public sector retirement ages in Italy and also presents a nifty graphic comparing them across a number of OECD countries. The first article describes the hopelessness felt by older individuals when these changes are announced without much lead time. Say what one will about the ability of OECD governments in general to tackle the fiscal challenges of population aging head-on, but at least such changes have been legislated in some countries well in advance of their taking effect. The 1983 Social Security Amendments scheduled a gradual rise in the normal retirement age starting in 2000, a full seventeen years later.