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Polish Parliament approved lowering of retirement age

The lower chamber of the Polish Parliament approved the lowering of the retirement age in the country to 65 years for men and 60 for women. The lowering of the retirement age was one of the main election promises of the ruling party Law and Justice (PiS) and the president Andrzej Duda. Many economists and the opposition criticized the move, as too expensive for the budget.

“We kept our word”, said in turn, Polish Prime Minister Beata Szydlo in parliament before the vote. “We are solving the problems of ordinary Poles, not the elites”, added she.

The lower retirement age, which is likely to take effect from October next year, could further reduce the number of workers and hence the country’s economic output.

The previous centrist government of the party Civic Platform, which the current government changed last year, raise the retirement age to reduce pressure on the budget. It was pledged gradually increase of retirement age to 67 for both men and women. The ex governors had argued that raising the retirement age was inescapable as Poland is facing a demographic crisis, with the number of pensioners set to rise in proportion to people of working age.

The Polish population of 38 million people is among the fastest aging population in the European Union.

The reduction of the retirement age must be approved by the Senate, where dominates PiS, and the president, before it comes into force.

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