Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-02-16-Speech-3-156-000"
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"en.20110216.11.3-156-000"2
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"Mr President, demographic trends recorded in recent years lead us to consider the need to implement a strategy for fresh cohesion and coherence in the pensions field, to promote solidarity between generations and between people, while helping to ensure a safe and adequate income after retirement.
I agree with the rapporteur when she notes that there are major differences between pension systems in Europe. They have been greatly affected by the severe financial and economic crisis with rising unemployment, declining growth, lower investment returns and growth in public debt. Pension funds find it more difficult to ensure adequate pensions and, in some cases, to honour their commitments.
During the reform of their pension systems, many Member States have made swingeing cuts. Financial sustainability is important, but we should also take into account the need to ensure an adequate income. Budget sustainability and adequacy of pension systems are not conflicting goals but two sides of the same coin: true sustainability cannot be achieved without an adequate retirement income.
By virtue of my experience as Minister for Employment in Italy, Mr President, I can confirm that if there is no compliance by the Member States, it will be very difficult for individual States to adapt to this type of legislation."@en1
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