Local view for "http://purl.org/linkedpolitics/eu/plenary/2001-07-03-Speech-2-122"
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"en.20010703.7.2-122"2
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"Mr President, rather than reinvent the wheel and go back over everything that was said, it is important to look at the reality: our population is getting older, living longer and retiring sooner. There must be provision for proper pension protection and payments in the future. The only way to achieve this is by coupling the different systems that are out there with the second and third pillar, as suggested by the rapporteur.
The areas of concern I have about the amendments and some of the proposals put forward relate firstly to tax harmonisation, which I oppose totally, and secondly to increased regulatory supervision over the operation of these funds, because we already have a raft of legislation governing investment vehicles and investment instruments.
I could advise Members of this House, and perhaps Member State governments whose observers are here today, to look at the Irish model, where we have committed ourselves between now and 2025 to putting 1% of our GDP towards a future pensions fund. That would mean IEP 700 m per year being put into the protection of pension payments for people from the year 2025 onwards. If more countries were willing to do this, then we would not have the same sense of urgency or danger that now faces many pensioners in Europe today."@en1
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