Europe faces aging populations, prompting discussions on raising retirement ages and supporting older workers through various national policies.
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The number of older individuals working past the retirement age is increasing across Europe, with Hungary already having 125,000 such workers. In Spain, efforts are being made to extend employment by gradually raising the retirement age to 67 by 2027 and offering financial support for those who choose work over full pension. Employers in Spain are adapting by creating roles specifically for older workers, implementing generational mentorship programs, and providing flexible working conditions. Despite legal changes, many Spanish retirees opt for early retirement. In Austria, the government is incentivizing active employment past retirement age with financial packages and exemptions from social security contributions, and partial retirement options will become available in 2026. While efforts to encourage older workers are underway in countries like Austria and Spain, participation rates remain lower compared to nations such as Japan or Switzerland. Economists suggest that insufficient health programs contribute to low willingness among the elderly to work. Furthermore, extending working ages is deemed strategically vital because the current pension system cannot support one-third of the active population, and this ratio is projected to worsen significantly in the coming decades. In France, the retirement age is being gradually increased from 62 to 64 by 2030 following parliamentary approval.
