THE VOICE OF INTERNATIONAL LITHUANIA
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Lithuanian lawmakers have decided to gradually raise the pension age to 65 to improve the country's public finances.
The Lithuanian parliament approved the plan Thursday in a 60-42 vote, where 12 lawmakers abstained from voting.
The current age for retirement is 60 for women and 62 and a half for men. The new plan means the pension age will be raised by two months a year for men and four months a year for women to reach 65 for both by 2026.
The decision follows similar moves across Europe, where countries have been forced to cut spending to bring down public debt.
Source:
http://www.businessweek.com/
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