Alexa
  • Directory of Taiwan

Spain retirement age going to 67 in austerity push

Spain retirement age going to 67 in austerity push

Spain is expected to raise its retirement age from 65 to 67 for most workers after reaching a deal with unions aimed at limiting political damage for Prime Minister Jose Luiz Rodriguez Zapatero and his governing Socialist Party.
Zapatero's cabinet will meet Friday afternoon to approve the key step in Spain's debt-crisis fueled austerity drive. He has already secured the votes needed for the bill to pass later in Parliament.
Spain's main stock index rose 0.5 percent Friday morning as investors digested details of the pension reform plan following the accord reached with unions.
Spain is under extreme pressure to fix its delicate public finances as it struggles with a 20 percent unemployment rate and grim growth prospects.


Updated : 2021-05-07 22:31 GMT+08:00