Portugal has announced that it will raise the retirement age to 66 years and will lay off thirty thousand public servants, all in accordance with the requirements of the European Union’s aid package.
Until now, Portuguese citizens retired at 65 years, and in order for the country to meet the conditions under which it receives EU assistance, another thirty thousand employees in the public sector will lose their jobs, and those who retain their positions will work 40 instead of the previous 35 hours per week, announced Prime Minister Pedro Passos Coelho, as reported by the BBC.
These changes, which will mainly be implemented from next year, will save a total of 4.8 billion euros by 2015, he said, expressing hope that it will also convince European partners of Portugal’s determination to adhere to austerity measures.
