Local view for "http://purl.org/linkedpolitics/eu/plenary/2001-07-03-Speech-2-213"

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"Mr President, I, for one, am quite disappointed both with the Commission’s proposal and Mr Karas’ report, as I believe they concentrate wholly on the needs of the financial markets and ignore those of employees and future pensioners. I would particularly like to focus on two aspects which I think are missing. With regard to pensions, it is the issue of security which is crucial to people. There should at least be a value guarantee whereby the contributed capital can be paid out even if it does not grow or increase. For example, what happens if these pension funds become insolvent or bankrupt or cannot fulfil their commitments? The report does not contain a single word about this. It is almost even stranger that another important aspect is missing. When we started discussing supplementary pensions, it was said that this was an important EU issue, as we have a common labour market and expect workers to move between the various European labour markets. In that case, they will face many problems with regard to pensions. It is currently very difficult to accrue pension rights earned consecutively in different countries. How should this be done? No answer is given to this question. In many countries, long qualification periods are applied. How will this be handled in a mobile labour market? Many countries have regulations involving double taxation. How will this be solved? There are a number of such questions. I therefore think that we need a completely new proposal from the Commission which takes as its starting point the needs of employees and pensioners rather than simply dealing with the needs of the financial market."@en1

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