Pension shock: Do we really have to work up to 67? Experts warn!

Pension shock: Do we really have to work up to 67? Experts warn!

An alarming study by the Economic Research Institute (WIFO) has shown that Austria has to adapt to a drastic change in the pension landscape. The results of this investigation, which was created on behalf of the "Generation Course Action", call for immediate reforms in the pension system. WiFo boss Gabriel Felbermayr emphasizes that the regular starting age should be raised to 67 years in order to counteract the steadily increasing pension costs. In view of an increasingly old population, the WiFo analysis sees a need for action, since 2.5 billion euros are already needed for the next two years to comply with the financial requirements. These measures are indispensable in order to renovate the budget sustainably, report various sources, including