Finance Ministry Proposes Retirement Age of 70 in Debt Reform Plan
12 Articles
12 Articles
The Finnish Ministry of Finance has prepared a large-scale social security reform project, which aims at reducing public services and increasing the retirement age. The Finnish Ministry has developed a plan to reduce benefits and raise the retirement age to 70 years in order to halt the growth of public debt and reduce its relation to gross domestic product. The reform will provide TASS with a reference to the Yle television and radio company. T…
Finance ministry proposes retirement age of 70 in debt reform plan
Finland’s finance ministry has proposed raising the minimum retirement age to 70 and abolishing the home-care allowance as part of a programme aimed at strengthening public finances by €8–11 billion during the next parliamentary term. The proposals have drawn opposition from trade unions, while business representatives have backed parts of the plan. The ministry published its policy paper on Wednesday, setting out options for the government that…
The Ministry of Finance proposed raising the retirement age to 70. The business community is praising this.
According to Ministry of Finance officials, all spending and taxes must be reviewed in the next election period. This also means cutting public services and benefits.
The Ministry of Finance published its own proposals on how Finland could save and prosper at the same time.
"By paying into their pensions, we can play a role in their future well beyond our lifetimes. And the money has decades to grow."
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