Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-02-15-Speech-2-558-500"
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"en.20110215.28.2-558-500"2
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"I think that the EU needs to create an open unitary pension system which will take into account demographic trends and the issue of mobility. Let me give the example of my own country. In Romania, the annual expenditure on pensions is the largest category of budgetary expenditure. The state social insurance budget has recorded an annual deficit ever since 2006, reaching EUR 1.5 billion in 2009. According to the World Bank’s estimates, in 2050, the deficit produced by pensions expenditure would have reached approximately 12% of GDP under the old system. This is why, by adopting Act no 263/2010, Romania has introduced a series of major reforms which will ensure the sustainability of the public pension system in the medium and long term. These reforms include: - discouraging early retirement and retirement through disability on unjustified medical grounds; - increasing the number of people contributing to the public unitary pension system; - gradually raising the normal retirement age for men and women, to 65 for men by 2015, and to 63 for women by 2030."@en1
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