Spain's government to raise retirement age to 67

29th January 2010, Comments 0 comments

Spanish employment minister says the change would be introduced gradually from 2013 and completed in 2025.

Madrid – Spain's government said Friday it plans to raise the official retirement age from 65 to 67, as the average age of the country's population continues to increase.

"It's the age that the government considers optimal," Employment Minister Celestino Corbacho told Spain's TVE public television.

He said the change would be introduced gradually from 2013 and completed in 2025.

"We are in a time of adjustment in the economy and in employment," he said.

The move is to be discussed at a cabinet meeting Friday, which will also approve measures to rein in the country's soaring public deficit.

The head of Spain's CCOO union, Ignacio Fernandez Toxo, has already voiced his "total rejection" of the retirement measure.

The announcement comes a day after the National Statistics Institute published a study which predicted that by 2049 there would as many people of working age in the country as those of 65 and over.

The institute Friday also reported the country's unemployment rate soared to 18.83 percent in the fourth quarter of 2009, one of the highest in the European Union, as Europe's fifth-largest economy remained mired in its worst recession for decades.

AFP / Expatica

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