Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-02-16-Speech-3-172-000"

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"Mr President, it is quite clear that across the political spectrum we all want adequate, sustainable and safe European pension systems. If we confined ourselves to the idea of making sure that a worker in one State can move to another Member State and take their pension with them, that might be a valid idea to pursue. We should, however, be careful about the different structures of pension systems in different Member States. Some are more private-oriented and some are very much State-funded. As we move towards more harmonised European pension systems, the concern I hear from my constituents is whether they will have to bail out underfunded or badly managed State pension funds in other countries, just as we have had to bail out badly managed countries and their national debt. We talk about sustainable pensions, yet at the same time we bring about policies in this place such as the Alternative Investment Fund Managers Directive, which will reduce the returns on savings and investments for tomorrow’s pensioners. We must make sure we have a consistent message."@en1
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