It’s simple; we just have to work longer. So says the millionaire from his seaside villa.  The CEO of AIG International, Robert Benmosche was speaking about the Greek monetary crisis but said that as life expectancies increase governments around the world should require their populations to work longer,much longer, before retiring.

“Retirement ages will have to move to 70, 80 years old,” Benmosche, who turned 68 last week, said “That would make pensions, medical services more affordable. They will keep people working longer and will take that burden off of the youth.”  

Greece, where the average life expectancy is 81.3 years, has an effective retirement age of 59.6, among the lowest in Europe, according to data compiled by Bloomberg.

 Retire at 80 and have 1.3 years of rest and relaxation? Rockin’ chair will get you.  

CEO Benmosche, who was interviewed at his seaside villa in Croatia got a salary of $3 million in 2010 which is boosted to a total of $8.4 million when stocks and other compensation are added.

AIG International ,in crisis and near bankruptcy during the mortgage meltdown several years ago was bailed out by the US Government now claims to be earning profits but there is some dispute about this because reportedly

…if you dug into the numbers, it quickly became clear that $17.7 billion of that profit was pure fantasy — a tax benefit, er, gift, from the United States government. The company made only $1.6 billion during the quarter from actual operations. Yet A.I.G. not only received a tax benefit, it is unlikely to pay a cent of taxes this year, nor by some estimates, for at least a decade.

And this Benmosche fellow tells us there is no easy way out.