Greece and Ireland revamp state pensions

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Two of the European countries most affected by the recent financial crisis, Ireland and Greece, have announced plans to reduce the cost of state pension provision – the former will increase the state retirement age from 65 to 68 while the latter will freeze state pension payments in 2010. The Irish government published its National Pensions Framework (NPF) at the start of March which will gradually increase the state retirement age until it reaches the new ceiling in 2028. This will not