An ageing working population has raised the prospect of having to work longer and retire later.

A new study by the ESRI and UCD has found that the working age population has been declining across the euro area since 2010.

It also found that even if unemployment and investment rates improve, we can expect GDP growth of just over half a per cent over the next decade. 

Immigration into the euro area is necessary to increase growth rates, it says.

Research Professor at the ESRI Kieran McQuinn says whilst raising the retirement age is helpful, it doesn't go far enough: