The New York Times (AP), December 10, 2010 -- A law enacted Friday will lower the retirement age in Bolivia to 58, bucking a global trend in which many countries are pushing citizens to work longer. The current retirement age is 65 for men and 60 for women. The law, which takes effect in a year, will also nationalize the pension system and extend pensions to the three million people 60 percent of the working population who labor in the informal economy in everything from street vending to bus driving. "We are fulfilling a promise with the Bolivian people," President Evo Morales said. "We are creating a pension system that includes everyone." Critics say the law is overambitious and unsustainable.
BBC News, December 11, 2010 -- Bolivia has passed a new pension law that lowers the retirement age from 65 to 58, bucking a global trend for raising the pension age to cope with rising life expectancies. The new law also nationalises pension funds and extends the state pension to people working in the informal sector.
BBC News, December 11, 2010 -- Bolivia has passed a new pension law that lowers the retirement age from 65 to 58, bucking a global trend for raising the pension age to cope with rising life expectancies. The new law also nationalises pension funds and extends the state pension to people working in the informal sector.