Wednesday, May 04, 2011

Netherlands: Cabinet Endorses Proposal To Raise Retirement Age

According to news sources, the proposal of Netherlands' social affairs minister Henk Kamp to raise the official retirement age for the state pension from 65 to 66 in 2020 has been endorsed by the Dutch cabinet, so the proposal can now be submitted to parliament.

The impetus for the move is Holland's aging population and increased longevity. Current government population projections indicate that the present ratio of four workers for each pensioner in the Netherlands is expected to decline to two workers for each pensioner by 2040.

Sources: Investment & Pensions Europe "Dutch Cabinet supports raising state pension age to 66" (May 3, 2011); TAEN "Dutch Government Moves to Raise State Pension Age" (May 5, 2011)

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