BRUSSELS // A European Union report called Wednesday on Europeans to work longer to keep receiving state pensions from cash-strapped governments.
The European Commission said the average retirement age in the 27-nation bloc would have to increase from the current age of 60 to 70 by 2060 if workers are to continue supporting retirees at current rates.
Europe is aging as people live longer and birth rates fall gradually. There are currently four people of working age for each person over 65. Two workers will support one retiree by 2060.
Governments with mounting debt are hiking retirement ages to help reduce the expected pension shortfall. Germans will retire at 67 starting in 2029. Spain is considering a similar increase and Britain is planning to hike the age to 68.
There has huge public opposition across Europe to making people work longer. The French President Sarkozy is having a hard time winning support for raising France's retirement age from 60 to 62. Greece has seen violent protests against pension reforms that include making people work beyond an average retirement age of 61, one of the lowest in Europe.
The EU employment commissioner Laszlo Andor said it was urgent for Europe to act now because its working age population will start to shrink from 2012.
"The current situation is simply not sustainable," he said. "The balance between time spent in work and in retirement needs to be looked at carefully."
The EU is not seeking a Europe-wide retirement age and has limited powers over employment rules - which are mostly set by national governments. But it wants to spark a debate to prevent a ticking demographic time bomb.
It says a recent survey of people across Europe shows that nearly three-quarters of Europeans think they will receive pensions below current payments or will have to postpone retirement and save more for their old age to enjoy a decent standard of living.
The European Trade Union Confederation says there is "no evidence" that employers want to keep older workers.
"The prevailing philosophy among too many employers is that older workers are too set in their ways to match changing work environments and should be encouraged to leave early, well below statutory retirement ages," said ETUC's John Monks.
* Associated Press
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Jigra
Starring: Alia Bhatt, Vedang Raina, Manoj Pahwa, Harsh Singh
Day 2, Dubai Test: At a glance
Moment of the day Pakistan’s effort in the field had hints of shambles about it. The wheels were officially off when Wahab Riaz lost his run up and aborted the delivery four times in a row. He re-measured his run, jogged in for two practice goes. Then, when he was finally ready to go, he bailed out again. It was a total cringefest.
Stat of the day – 139.5 Yasir Shah has bowled 139.5 overs in three innings so far in this Test series. Judged by his returns, the workload has not withered him. He has 14 wickets so far, and became history’s first spinner to take five-wickets in an innings in five consecutive Tests. Not bad for someone whose fitness was in question before the series.
The verdict Stranger things have happened, but it is going to take something extraordinary for Pakistan to keep their undefeated record in Test series in the UAE in tact from this position. At least Shan Masood and Sami Aslam have made a positive start to the salvage effort.
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