Local view for "http://purl.org/linkedpolitics/eu/plenary/2011-02-16-Speech-3-290-000"
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"en.20110216.11.3-290-000"2
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Demographic development, that is, the inverted population pyramid that we can expect in due course, and longer life expectancy, which means that older people remain in work and participate in society for longer, make it necessary to consider social welfare systems. The financial and economic crisis, combined with demographic changes, has had an impact on pension systems. Because of higher unemployment, slower growth, smaller returns on investments and larger public deficits, it is more difficult for pension systems to provide adequate pensions. In particular, young people with a high level of education are entering the labour market later, and so they do not work long enough to claim a pension when they reach the legal retirement age.
It should also be borne in mind that inadequate pensions may lead to a decline in consumption and, because of reduced demand, to economic instability in a country. As a result, I feel that steps really must be taken to redefine the future of young and old, thus contributing to secure and adequate income provision after retirement, while the need to give fresh impetus to the responsibilities of Member States, the two sides of industry and Europe must also be kept in mind."@en1
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