67

In light of the economic crisis in Spain, the president and lawmakers have decided to change the retirement age to 67, two years older than the previous retirement age of 65.

" The deal also comes after the government introduced last year a labor market overhaul to reduce the cost of firing workers. While many economists also argued that the labor market changes did not go far enough, the government is now hoping to negotiate with unions before the end of March an agreement on loosening Spain’s collective bargaining system, seen as one of the major obstacles toward making Spain’s labor market sufficiently flexible to reduce its 20 percent unemployment rate, double the average in the European Union."

Pension reform is only the beginning of economic reforms that Spain will have to undergo in an attempt to revitalize their economy. Read more about the issue at:


Spain to Raise Retirement Age to 67 - NYTimes.com