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Keuschnigg Pleads for Increasing Retirement Age

People ♦ Published: August 29, 2012; 10:19 ♦ (Vindobona)

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At the Alpbach Forum 2012, the Austrian economist Christian Keuschnigg explained the necessity of implementing reforms for the Austrian retirement plan.

Keuschnigg Pleads for Increasing Retirement Age / Picture: © Institut für Höhere Studien - Institute for Advanced Studies

For the new director of IHS Christian Keuschnigg, a sustainable financing of Austria´s social system is essential. However, the welfare state would be more expensive than the budget indicates. Not only public expenses, but also employment losses due to unemployment, retirement and inactiveness must be taken into consideration, the economist days.

The main problem would be the…