Greece will not raise retirement age further -minister

Greece will not need to raise the retirement age beyond the current 65 years or slash pensions again to save its ailing social security system, the country's alternate labour minister said on Tuesday.
The debt-laden country's international lenders, the EU and the IMF, will assess in February whether a sweeping pension reform last year was enough to contain public spending on pensions to
7.3 percent of GDP by 2060 from 4.8 percent at presdent.
"The actuarial studies (on the four main funds) show ... there won't be a more than a 2.5 percentage point rise in public spending on pensions by 2060," Alternate Labour Minister George Koutroumanis told Reuters in an interview.
"We will achieve our target without changing the retirement age or the level of pensions," he said.


source: Reuters