Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-02-16-Speech-3-315-000"
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"en.20110216.11.3-315-000"2
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"Labour MEPs voted in favour of this non-binding report on pensions and the challenges of ageing societies and spending pressures being faced across the EU. We welcome the fact that this report explicitly states that there is no 'one size fits all' approach to pension provision across Member States but that the EU can clearly add value in sharing ideas and coordination.
We voted to remove from paragraph 8 the inclusion of private debt in the sustainability assessment of public finances, as we feel that current market conditions would not be supported by this kind of assessment. We also maintain concerns over the issue of applying Solvency II-type capital requirements to pensions as this could potentially drive up costs without adding security for the UK's employer-sponsored occupational pensions. The UK's system, including the Pension Protection Funds set up under the Labour Government, provides a high level of protection to pension scheme members and beneficiaries.
Labour MEPS will continue to work to ensure that people who save with the State, with their employer or privately are given the genuine pension protection they need to feel safe about their retirement."@en1
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