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  • Bolivia cuts retirement age, nationalizes pensions

    12/03/2010 9:28:25 PM PST · by Cardhu · 14 replies
    Business Week via AP ^ | December 3rd 2010, | CARLOS VALDEZ
    LA PAZ, Bolivia Bucking a global trend, leftist-led Bolivia is lowering its retirement age and nationalizing its pension funds. Bolivia's Congress approved legislation early Friday to make Bolivians eligible for full pensions at age 58. The country's 70,000 miners will get to retire two years earlier. The previous retirement age was 65 for men and 60 for women. Bolivia's decision to lower its retirement age runs counter to a global trend to raise retirement ages as life expectancies rise, birth rates drop and national treasuries come under strain from pension obligations. France raised its minimum retirement age to 62 last...