Local view for "http://purl.org/linkedpolitics/eu/plenary/2000-04-12-Speech-3-285"

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"en.20000412.10.3-285"2
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"Mr President, ladies and gentlemen, supplementary pensions and complementary pensions schemes are of course gaining constantly in importance and in market value on account of democratic development. Increasing mobility on the part of employees in the European Union necessitates a Community legal framework for managing complementary pensions schemes. But there is also a long overdue need to bring order to taxation systems. Incidentally, it has of course occurred to me that the Commission’s proposal is definitely only aimed at harmonising investment regulations, which does not do justice to the issue, that is to say, it completely misses the point. What I am saying is that we now have the perfect opportunity to extend the European social system further and to develop it further in a judicious manner. Remember that complementary pensions schemes are schemes that make provision for old age. This makes sense and there are many reasons as to why it is absolutely essential that we bear this in mind for the future. If pensions are one of our real concerns then we must ensure that they are of a high quality, and account must be taken of the biometric risks. Only good quality products will be able, in the context of the second and third pillars, to fulfil a social function for the European social model. Otherwise, all we would be talking about here would be capital redemption insurance, which is not the same thing at all. That would constitute misrepresentation of the product. Therefore please do not support the idea that it is necessary to channel the capital investment products already in existence into the European social model. That would do our cause no good at all. I would like to dedicate the last sentence, in particular, to Mr Balfe."@en1
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