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EU BID TO RAISE RETIREMENT TO 70



 
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EU BID TO RAISE RETIREMENT TO 70 #1 (permalink) Sun May 30, 2010 22:38 pm   EU BID TO RAISE RETIREMENT TO 70
 

EU BID TO RAISE RETIREMENT TO 70

"Maybe the French will save us again"?
Workers in Paris protest against the French government's planned pension reform

Sunday May 30,2010
By Ted Jeory
Have your say(13)
BUREAUCRATS in Brussels want to raise the retirement age for millions of British workers on a regular rolling basis to avoid another financial crisis.
The European Commission wants people to work longer hours and retire later and wants to fix pension entitlements to an EU-wide formula.
It suggests that on average no EU citizen should spend more than a third of adult life in retirement.
Brussels believes that by 2060 Europeans will live on average seven years longer, which would mean raising the retirement age to 70 under its proposed formula.
The move would mean statisticians constantly reviewing average life expectancies throughout the Continent to determine retirement age.
The proposals are contained in a Commission green paper leaked last week, which warns that failing to follow the recommendations would result in a “painful combination of smaller payouts and higher contributions”.
The proposal, to be presented to member states next month, is an attempt to deal head on with the demographic time bomb ticking across Western Europe.
The financial crisis in Greece and other Mediterranean countries has prompted increasing calls for an “economic government” directed from Brussels.
Europhiles do not believe the Lisbon Treaty, which has already transferred a raft of sovereign powers away from national parliaments, goes far enough. They want tighter control and co-ordination over tax and spending arrangements.
But the proposals drew a stinging rebuke last night from Tory Right-wingers. MP Douglas Carswell agreed Europe needed a “more realistic approach” towards pensions, taxes and benefits but said it had to be done on a national level. “Western Europe is going to have a demographic problem that’s going to play havoc with the post-war retirement arrangement,” he said.

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“But it would be outrageous for the EU to impose this on Britain or even on Greece for that matter.
“One of the reasons why Western Europe is in the fiscal mess it is, is because voters have not had to face the consequences of decisions that are being made in their name. ”
The green paper says the real average retirement age in the EU is just over 60.
Last week, the British Government announced that the retirement age would rise from 65 to 66 between 2024 and 2026 but this date could well be brought forward.
Work and Pensions Secretary Iain Duncan Smith said it was “an absolute imperative to start moving the retirement age up” and suggested he would link it to life expectancy. It is estimated that by 2056, the life expectancy for a man and woman living in England will be 84 and 89 respectively.
The country likely to be worst affected by the Commission’s proposals is France, where men retire on average at 58, the EU’s lowest age.
Some 400,000 demonstrators protested across France on Thursday at President Nicolas Sarkozy’s plan to raise the retirement age to 61 or 62.
Germany recently raised its retirement age from 65 to 67.
Eurosceptics fear Brussels is using the eurozone crisis to justify a power grab that would have serious consequences for Britain. Robert Oulds, director of the Bruges Group think tank, said: “A European economic government must not be allowed to punish people that have been prudent by making them pay for the sins of the countries in the eurozone whose political leaders have squandered public money and trashed their economies.”
http://www.dailyexpress.co.uk/posts/view/178054/EU-bid-to-raise-retirement-to-70/
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EU BID TO RAISE RETIREMENT TO 70 #2 (permalink) Tue Jun 01, 2010 12:13 pm   EU BID TO RAISE RETIREMENT TO 70
 

Well Jamie, I think that is great news for the many long-term unemployed. I think they worry a great deal about where there next dole money is coming from.
Of course there is also an excellent aside to this move. The older you have to be to retire, the lesser your chances of ever claiming the OAP. Good government.
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