Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-02-15-Speech-2-539-000"

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"en.20110215.28.2-539-000"2
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". Madam President, I believe that we need to be realistic and acknowledge that the current public pension systems, based on the transfer of resources between generations, known as the ‘pay as you go’ principle, are no longer economically viable and, as such, they require public budget subsidies to survive. The ageing population trend and increasing labour mobility only serve to exacerbate the imbalances in these pension systems, while the measures being proposed, whether raising the retirement age or increasing contributions, are limited and will be increasingly restricted as well by social resistance to measures of this kind. Ultimately, we will have to acknowledge that the solution is to switch to those pension systems where people build up their own pension fund over the course of their working life."@en1
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