Retiring boomers stretch pension budget

5th December 2011, Comments 0 comments

The government is facing increased spending on old age pensions as the first baby boomers retire.

Figures published by the Dutch statistics office show that the first group of boomers to reach retirement age caused a substantial increase in benefits payments in the first six months of this year. Baby boomers are defined as people born between 1946 and 1964.

The Dutch government spent 15.8 billion euros in old age pension benefits in 2011, an increase of six percent over the same period in 2010. The increase is substantially larger than in previous years.

© Radio Netherlands Worldwide

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