Spain to increase retirement age from 65 to 67

Spain to increase retirement age from 65 to 67

Spain will increase retirement age for workers from 65 to 67, the second VP of the Government, Elena Salgado, announced today, with the changes coming into force gradually from 2013, so that by 2025 all workers will retire at 67. The plan for the reform of the pensions system will now be presented to a parliamentary commission for translation into law, and will also include an increase in social security contributions, though at present the actual amount of the rise is yet to be established.

Further proposals include rationalizing access to pensions, and including those working in the agrarian sector and household employees. Not the least of the various motivations behind the proposed changes is Spain’s increase in life expectancy, which is apparently second in the world, behind only Japan.

Unions have flatly rejected the suggestion of an increase in the length of a working life, but the first VP of the Government, María Teresa Fernández de la Vega, stressed that the Government would try to convince them “with arguments, data, reason and dialogue”. She stressed that Government had a responsibility to consider the social and economic state of the country, and to take a medium and long term view, and that now was the moment to start this debate. Canarias7

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