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27-Aug-08 11:15 [Europe, Middle East and Africa]
European pension timebomb 'is ticking' By 2060, there will be only two people of working age for each person over 65, putting huge strains on the EU pension economy, it has emerged.
It was revealed by the European Commission's statistical service, Eurostat, that in just over 50 years time, the ageing of major European countries will cause "big problems" for healthcare, pension schemes and welfare.
Eurostat added that the shift in demographics will also make Britain the largest country in the EU with a population rise of 25 per cent from 61 million to 77 million residents.
The statistical body also said that France was predicted similar growth to the UK due to its "praised family policies and support of working women", the Guardian revealed.
It did however state that the UK had little to fear from a shrinking young population that is unable to support pensions of elders due to a birth rate of 1.91 children per woman in Britain.
The New York Times recently commented on the varying ages of retirement in Europe, ranging from 59 in Italy to 67 in Germany.
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