Pension schemes: reform needed to ensure sustainability and adequate income, says Employment Committee

Pension schemes: reform needed to ensure sustainability and adequate income, says Employment Committee

(...) The EU and its Member States must act to ensure that pension schemes can sustainably deliver an adequate income to the EU's growing number of retired people, despite the economic crisis, says Parliament's Employment Committee in a resolution voted on Tuesday. Pension portability must also be addressed, as must inequalities faced by women and older workers, say MEPs. "At present there are four people of working age for every person over 65, by 2060 there will be just two" says a European Commission Green Paper, to which the Employment Committee resolution responds. "Although Member States have the lead, there are aspects where coordination at European level is important. The ageing of the population has a big impact because not all Member States have put money aside for their pensions. This could lead to enormous expenses which will have consequences for the Stability and Growth Pact. The supervising authority should monitor pension systems and some Member States must be encouraged to foresee a safe and adequate pension system", commented Ria Oomen-Ruijten (EPP, NL), who drafted the resolution. (...)