WARSAW, Poland (AP) — Poland's lawmakers on Friday approved a controversial government plan to raise the retirement age to 67 for most Poles, a key part in efforts to cut state debt, maintain robust growth and keep up investor confidence in this emerging economy.
Following a heated debate that included the opposition calling the government "thieves", the lower chamber of Parliament voted by a margin of 268 to 185 with 2 abstentions to approve changes sought by the pro-business government of Prime Minister Donald Tusk. Until now, women were allowed to retire at age 60 and men at 65.
Tusk's government argues that delayed retirement will help Poles build up larger pensions and reduce state spending. It says that in the decades to come, the aging society will not be able to maintain its remarkable economic growth of recent years and also support the growing number of retirees. Already the state budget is burdened by the need to funnel funds into the state-run pension system.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.