Finnish government plans to trim generous welfare model | Leadership Think Tank | Scoop.it

(Reuters) - Finland's government announced a long-term plan to start scaling back its welfare system, one of the most generous in the world, aiming to preserve its triple-A credit rating in the face of a slower economy and aging population.

In a statement on Thursday, the government laid out a wide range of measures, including a hike to the effective retirement age to 62.4 in 2025 from a current 60.9. It also said it could force municipalities to consolidate and speed up health care reforms.

The changes are not immediate but are likely to put off some voters who may see them as steps towards destroying a welfare model which, like those of its Nordic neighbors, emphasizes social equality and well-being.


Via Ulla M. Saikku