Nowotny - raising the "retirement age"

Politics ♦ Published: July 13, 2010; 00:00 ♦ (Vindobona)

Higher life expectancy, rising deficits: Austrians should therefore delay retirement, says National Bank's CEO Nowotny.

Nowotny - raising the "retirement age" / Picture: © Agenda Austria 2020

The population is aging; the number of contributors is decreasing. For Ewald Nowotny it is clear: An increase in the statutory retirement age from 65 years could be one way out of misery.

The current debate was triggered by a recommendation of the European Commission to gradually raise the retirement age to 70 years.

First and foremost it was important to raise the…