Dutch retirement at 68 by 2040

20th April 2011, Comments 0 comments

Social Affairs Minister Henk Kamp says the Dutch pensionable age will probably have to be raised to 68 in 2040 because people are living longer. He was speaking during a parliamentary debate on pensions reform.

The minority government and many in the opposition want to build on an accord between employers and unions sketched out last June. Under the informal accord, the age at which people could draw their pensions would be linked to average life expectancy, with people retiring at 67 by the year 2025. Mr Kamp says that by 2040, the pensionable age would be 68.

Mr Kamp is raising the issue before the government, employers and unions have reached agreement on the matter. He wants to introduce legislation later this month to raise the pensionable age to 66 in 2020. This should save the government around 700 million euros.

When the government, employers and unions have finally reached agreement, Mr Kamp says, any legislation already on the statute book can be altered accordingly.

© Radio Netherlands Worldwide

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