Longevity improvements more significant than credit crunch

A report from the European Commission has cited the UK, Ireland, Greece and Slovenia as the countries most needing to take action over the impact on their public finances of an ageing population. These countries are viewed as being exposed to greater risks as a result of very large projected increases in age-related expenditure such as state and public sector pensions. The report suggests raising the retirement age, reducing the accrual of future pension rights and removing incentives for early retirement as ways to begin to address the issues faced.