European governments are increasingly cutting pension spending, risking losing the support of older voters, the Daily Telegraph reported, citing an OECD analyst who argued that aging will inevitably force changes in pension systems across Europe. British Prime Minister Andy Burnham has proposed removing the pay rise from the pension linkage formula from 2030, which could cost pensioners £1,600 a year. Romania froze state benefits for two years, France proposed to limit the linkage to payments of up to 1,260 euros per month, the Czech Republic cut another linkage, and Slovakia plans to link the retirement age to life expectancy.

European governments are increasingly cutting pension spending, risking losing the support of older voters, the Daily Telegraph reported, citing an OECD analyst who argued that aging will inevitably force changes in pension systems across Europe. British Prime Minister Andy Burnham has proposed removing the pay rise from the pension linkage formula from 2030, which could cost pensioners £1,600 a year. Romania froze state benefits for two years, France proposed to limit the linkage to payments of up to 1,260 euros per month, the Czech Republic cut another linkage, and Slovakia plans to link the retirement age to life expectancy.