Later retirement, better pension

The Spanish Executive would like to delay the retirement age in order to minimize social costs in a society who gets older and older. Moreover, this would give employees the chance to carry on working -on a voluntary basis- and to make their pension better, getting a maximum rise of 15% until the age of 70. This is what the Minister of Work and Social Matters, Jesús Caldera, explained yesterday. He also announced that in the following weeks the Government will pass the law which will articulate this new horizon of Spanish retirement. In his intervention in the UN Conference on Ageing, the minister declared that the Spanish Government definitely advocates and promotes the delay of retirement. «You can get benefits, we will pass the law, but the decision will always be in the hands of employees on a voluntary, personal basis, respecting their wishes.» He also emphasized that this measure will exempt companies from paying their taxes to the Social Security. «The average retirement age in Spain -reported Caldera to his colleagues in the conference- is rising, contributing in this way to the maintenance of the system of social protection; from the Government we advocate this kind of voluntary measures.» The Minister of Work also underlined before the forum another type of measures developed by the Government, such as a rise of a 33% for the lowest pensions in four years, which will benefit 3 million people, or the improvement of widows¿ economical benefits.