May 19, 2010
The IMF today explains the importance of raising the retirement age in Greece, saying “The pensionable retirement age for some groups beginning at around age 50 is out of line with life expectancy in Greece– and out of line with the rest of the Euro zone countries.”
Thus, the IMF’s deal with Greece restricts “early retirement to age 60 by 2011, including those insured before 1993, workers in heavy and arduous professions, and those with 35 or more years of contributions.”
This is particularly rich coming from IMF staff, who enjoy lifetime pensions “payable starting at age 50 with a minimum of three years of service.” While it is little surprise that IMF policies have damaged public health in developing counties, is there any reason to suppose that IMF staff have exceptionally short lifespans which justify their early retirements?
