WARSAW, Poland (AP) — Poland's two governing parties agreed Thursday on a plan to raise the full retirement age to 67, though the pro-market prime minister had to accept a watering down of his ambitious pension overhaul to placate his junior partner.

Polish law currently allows women to retire at age 60 and men at age 65. Prime Minister Donald Tusk and his Civic Platform party want to raise the retirement age to 67 for all Poles to reduce state spending and tackle government debt.

Those intentions have proven unpopular and even caused a rift in his coalition with the Polish Peoples' Party, which supports greater welfare spending by the state. Many people in this ex-communist country are accustomed to a system in which people retire relatively early, with people in some professions retiring in their 50s.

Complete your profile to continue reading and get FREE access to BenefitsPRO, part of your ALM digital membership.

Your access to unlimited BenefitsPRO content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.