Carlos Costa addressed the current macroeconomic challenges facing Portugal and Europe during the conference ‘The State Budget for 2026’, organized by the Order of Economists. He emphasized the need for a “deeper reflection” on active aging and the current approach to retirement.
The former vice-president of the European Investment Bank (EIB) highlighted that society “viewed retirement as a privilege when life expectancy was shorter and social life was organized outside of work,” but now, “the strict application of this rule has detrimental consequences for both society and the retiree.”
Carlos Costa stated the importance of assessing people’s ability to remain active, particularly considering the “issue of personal and collective satisfaction regarding the contribution to society.”
He cited the example of France in “considering the retirement age,” and suggested that the transition should be evaluated to determine whether it “should be a requirement or a choice.” He added, “If it is a choice, whether it should be by mutual agreement of both parties or can be exercised unilaterally.”
The former governor argued that there is a need to “think very seriously” about this topic, especially due to the risk of “wasting human capital” in a country with a “shortage of skills.”
