AIG Boss: Get Ready to Retire at 80

Robert Benmosche makes gloomy comment in response to EU debt crisis
By Matt Cantor,  Newser User
Posted Jun 4, 2012 12:36 PM CDT
Robert Benmosche, president and CEO of American International Group (AIG).   (Getty Images)

(Newser) – Europe's debt crisis proves the need for governments around the globe to take big steps to get their economies back on track—and that may mean their citizens working for an extra decade ... or two. AIG's chief executive expects the retirement age to ultimately jump to "70, 80 years old," Robert Benmosche tells Bloomberg. "That would make pensions, medical services more affordable. They will keep people working longer and will take that burden off of the youth." To wit, the life expectancy in Greece is 81.3 years but the effective retirement age is just 59.6. Its people "have to see there is no easy way out of this," he adds. (Read more AIG stories.)

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