Sweden considers raising retirement age to 75

20th of March 2013
Sweden considers raising retirement age to 75

Swedes should be prepared to work until they are 75 and to change careers in the middle of their work life if they are to keep the welfare standards they expect, Swedish prime minister Fredrik Reinfeldt has said.

The retirement age is being debated in the Swedish parliament ahead of an expected pension reform package in April.

In its proposal the government wants to give people the right to remain at work until 69 instead of the current 67 cut-off age. Meanwhile the right to early retirement would be delayed by two years, to 63.

However Reinfeldt has said in several interviews that Sweden must consider taking the step even further by raising the retirement age to 75.

"This is a time of changes in the global world economy. The nations we meet in open competitions don't have our welfare ambitions. They don't put taxes on production to finance the pension system or welfare solutions. Therefore the question remains, is our equation correct?" Reinfeldt said in an interview with the newspaper Dagens Nyheter

To be able to work until the age of 75, the Swedish prime minister says he envisions at least one career change during a person's work life as the job one may have as a young person could become too tough or stressful later on.

Reinfeldt acknowledges that this will require a huge change of mindset among the Swedish population.

"It's a very challenging idea. Our whole life is affected by the fact that we speak to a career counselor, make a decision, and then think we will work with the same things for the rest of our lives," the prime minister stated.


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