Raising retirement age 'unrealistic'

A CHANGE in the retirement age from 65 to 70 or 75 is unrealistic and socially unacceptable, according to VHI chief executive Vincent Sheridan.

He said the solution, not just for State pensions, but for individuals who wanted to protect their long-term financial and health needs, lay in coming up with nnovative ways to encourage or require people to face up to the challenge today.

"The recent report on our ageing population prepared by the Society of Actuaries in Ireland is to be welcomed, although it is unfortunate that most coverage of their report highlighted their conclusion that an older retirement age of 70 or 75 represented the most effective way to meet the cost of State pensions.