Eurozone States Are Urged to Sustain Pension Plans

“The European Union and its Member States must act to ensure that pension schemes can sustainably deliver an adequate income to the EU’s growing number of retired people, despite the economic crisis. This is one of the main points which focused a resolution voted within the Parliament’s Employment Committee which also calls for pension portability to be addressed, as well as the inequalities faced by women and older workers.”

-MEPs

Since the European member states have accepted responsibility or at the very least since the Eurozone states hold the jurisdiction and the means to provide pensions to their citizenry, most Members of the European Parliament have urged EU Member states to continue to have stabilized pension programs for their ageing citizens.

The members of the Parliament’s Employment Committee took the advice of the MEPs to heart and stated that they are presently reviewing the current pension systems and analyzing any changes to them.

This latest recommendation comes on the heels of a meeting at the Ecofin Council in November 2010 that outlined the necessity of various states to reform their pension systems.  France and Spain have recently undergone reforms to ensure the sustainability of their pension programs. One recommendation from the Economic and Social Committee of the EU has suggested delinking the retirement age to life expectancy and thus encouraging various policies connected to employment opportunity for an ageing populous.

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