Economic council recommends higher pension age

A higher pension age would bolster intergenerational solidarity through longer working lives and reduced financial strain on the pension system.

So argues the economic council in its new economic sustainability report, presented today in Tórshavn.

The council also recommends general optimisation of the public sector, especially in elderly care, to curb spending growth.

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To further promote fiscal stability, local councils are encouraged to revise their fiscal policy systems to ensure balanced budgets in the long term.

Another recommendation is new initiatives to increase immigration while reducing emigration, especially of young people.

Read the new report here (available in Faroese only).

Read the Faroese version of this article here.

English version by prosa.fo.

More Faroese News in English.