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Home » Business » For the EU Commission, “The population is aging, retire later.”

For the EU Commission, “The population is aging, retire later.”

The Commissioner for Demography causes discussion with her prescription against declining birth rates and the fallout for the economy and public accounts. "Need to link retirement age to life expectancy."

Emanuele Bonini</a> <a class="social twitter" href="https://twitter.com/emanuelebonini" target="_blank">emanuelebonini</a> by Emanuele Bonini emanuelebonini
27 June 2024
in Business
[foto: Wikimedia Commons]

[foto: Wikimedia Commons]

Brussels – “Don’t work less, and work all.” EU Commissioner for Demography, Dubravka Suica, reinterprets a well-known motto of the working class to adapt it to the needs of a European Union that is ageing too much, continues to have no children, and is faced with forced choices: postpone entry into retirement and keep working those who are older.

The ageing trends are already underway. The Outgoing European Commission, which called for new policies of targeted reception of migrants, is aware of this. The European Central Bank, which issued an alert, is aware of it already for the year ahead on the calendars of all member states. Suica’s premise at the event on “Challenges and opportunities of longevity in Europe’, organized by the European Commission, is that “the population is ageing rapidly.” Data at hand, which she cites, “by 2070, the proportion of people aged 65 and older is projected to increase from 21 to 30 per cent.” At the same time, the share of men and women aged 80 and older “will more than double, from 6 to 13 per cent.”

An economic and fiscal tightening problem as well. “Age-related public spending, including pensions, health care, long-term care and education, is expected to increase significantly,” warns the Demography Commissioner. Thus, in the absence of a reversal of demographic trends, “to mitigate the budgetary impact of an ageing population, policies that promote longer working lives and healthy ageing are essential.” In other words, “It will become necessary to link retirement age to life expectancy, as many member states already do, and to encourage higher employment rates among older workers and women.”

The European Union of values and welfare condemns Europeans to live to work. But in Brussels, there seems to be no alternative. So much so that there is a whole program in Suica’s head. “To support longer working lives, we need to adapt our workplaces with flexible working arrangements and retirement options.” while “the employers need to recognize the value of older employees and adapt roles to their abilities.” Local governments, and thus city policy, must adapt to the young people over 70 who will drive the economy of tomorrow. “Urban planning must evolve to create age-friendly environments that promote active ageing.”

English version by the Translation Service of Withub
Tags: aging populationdubravka suicapensionsretirement agework

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