Demand for Increase in Retirement Age

Politics ♦ Published: March 8, 2011; 00:02 ♦ (Vindobona)

Austrian Young Economy demands again a "sustainable" pension system. Less early retirement, but more later pensioning is required.

Demand for Increase in Retirement Age / Picture: ©

"European pension systems are on their best way of becoming cost-prohibitive. At the end of the road it is the young who will have to pay", said Mark Roth, Federal Chairman of Young Economy, at yesterday's EU social affairs ministers meeting in view of current figures and forecasts. An aging population, combined with outdated pension systems, is becoming a difficult hurdle to overcome…