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You're reading: Lithuania to raise pension age to 65 by 2026

VILNIUS, Lithuania (AP) — Lithuanian lawmakers have decided to gradually raise the pension age to 65 to improve the Baltic country's public finances.

The Lithuanian parliament approved the plan Thursday in a 60-42 vote, where 12 lawmakers abstained from voting.

The current age for retirement is 60 for women and 62 and a half for men.

The new plan means the pension age will be raised by two months a year for men and four months a year for women to reach 65 for both by 2026.

The decision follows similar moves across Europe, where countries have been forced to cut spending to bring down public debt.

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