Local view for "http://purl.org/linkedpolitics/eu/plenary/2007-06-20-Speech-3-025"
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"en.20070620.2.3-025"2
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"Madam President, the revelations from the investigation into Equitable Life have left many people questioning the security of their pensions. When people make sacrifices in their working years to set aside funds for their retirement, they do it for one reason and one reason alone: their own security and that of their family. With demographic projection showing an ageing Europe, people feel they cannot trust their future to state pensions. States will be pragmatic and do what they have to do when over a third of their population is over 65. Today’s workers look at the state pension programmes as a foundation on which to build their incomes by supplementary schemes for what might be 20, 30 or even 40 years of life after retirement.
I recognise that it is difficult to find a balance of protecting existing pension situations while creating a framework that will withstand the kind of pressure that will mount on pensions as Europe ages and that will also ensure that pensioners do not spend their entire retirement fighting to get their money back, having set it aside during their working years."@en1
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