Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-02-15-Speech-2-519-000"
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"en.20110215.28.2-519-000"2
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"Madam President, in the Committee on Employment and Social Affairs on 22 November last year, the rapporteur said that pensions were exclusively a competence of the Member State. Now this has become something more like: although Member States have the lead, there are aspects where coordination at European level is important. In paragraph 9, the resolution stresses Member States’ competence but calls on them to coordinate their different pension policies. There is double speak here, with EU control overturning principle.
The UK National Association of Pension Funds says that this report will make pensions more expensive – by 90% according to actuarial consultants Punter Southall. If that is exaggerated, it is certainly true that huge extra sums will be needed to prevent pensions collapsing, so premiums will rise massively. Pension firms and Member States do not need this report; they need help to keep premiums down. Otherwise, this misguided report has the potential to destroy that which it seeks to protect."@en1
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