Local view for "http://purl.org/linkedpolitics/eu/plenary/2001-05-17-Speech-4-150"

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"en.20010517.5.4-150"2
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"Many of the children that are presently being born will live to the age of 120 or more. This has been as a result of evidence which has been forthcoming by scientific communities, both in America and in the European Union. The fact of the matter is simply this. People are living longer. People are leading healthier lives. People know what foods they should eat in an effort to promote healthy living and, in its simplest terms, people are living longer. Many people retire from work at the age of 55 and the fact of the matter is that EU governments are going to have put in structures to ensure that future pensions can be paid to public servants. Equally, those working in the private sector will have to look more carefully at their pension plans. I welcome a recent study carried out by Merril Lynch, a leading US bank, which stated that Ireland tops the European league for safeguarding future pension payments. One per cent of our GDP is now being put aside per annum into what is known as the National Pension Reserve Fund so as to ensure that pensions for our public servants can be paid after the year 2025. Per annum we are now paying as much as £600 – £700 million pounds into this fund. I also believe it is important that we not only promote good savings programmes in our country but also ensure that people take out a pension at an early age. I am aware that EU leaders discussed this matter when they met in Stockholm recently. It is incumbent on all the governments of the European Union to bring forward legislation which can ensure primarily the payment of public service pensions into the future and secondly, to promote good pension programmes for the private sector. If this entails giving more tax breaks for persons so as to encourage them to take out pensions in the private sector, so be it."@en1
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