August 29, 2013 / 7:28 PM / 4 years ago

Finnish govt agrees on welfare reform, to raise retirement age

HELSINKI, Aug 29 (Reuters) - Finland’s government agreed on a long-term plan to cut back its generous welfare system by trimming benefits and raising the retirement age, aiming to preserve its triple-A credit rating in the face of a slower economy and ageing population.

In a statement on Thursday, the government said it wanted to raise the effective retirement age to 62.4 in 2025 from a current 60.9. Childcare leave policies will also be changed to encourage mothers to return to work sooner, it said. (Reporting by Jussi Rosendahl and Ritsuko Ando; Editing by Sonya Hepinstall)

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