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European workers 'prefer retirement to extra funds'

28 April 2010
Workers in Europe would be prepared to forego additional payments in order to retire earlier, new research finds.

A survey of 7,279 respondents carried out by Aon Consulting indicated one in three employees in the region (29 per cent) would like their government to scrap plans to raise the retirement age even if it meant less money in old age.

The research showed many people in ten of Europe's leading economies would prefer to have a smaller income, although 46 per cent of Irish workers expected to work past 65, as ageing populations place pressure on benefits and healthcare systems.

In Denmark and Britain, this figure stood at 44 per cent and 41 per cent respectively, indicating that many Europeans believe they will have to work longer than their parents.

Tolerance to working to a more advanced age was resisted, however, by a large proportion of respondents in Spain, Germany, Switzerland and Belgium.

Oliver Rowlands of Aon Consulting suggested: "European employers should be aware that older workers bring a wealth of experience and may want to adopt a strategy for accommodating part-time working or job-sharing, for example."

Employment is central to a series of strategic priorities for 2010 recently adopted by the European Commission.ADNFCR-1275-ID-19745442-ADNFCR