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Verbatim report of proceedings
Tuesday, 23 September 2003 - Strasbourg OJ edition

Adequate and sustainable pensions
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  Jensen (ELDR). (DA) Mr President, Commissioner, I also wish to thank Mr Andersson for his very clear and well set-out report, and the Commission for a very interesting report on European pensions systems. How countries organise their pensions systems falls within the sphere of national competences, but I think that the report, with its objectives of adequate, sustainable pensions and flexible pensions systems may provide inspiration and give rise to sensible debates at national level. I also think that an interesting conclusion has been reached, namely that, in general, there is a high degree of redistribution and solidarity in the Member States’ pensions systems, but that women are disadvantaged in many countries because of their special position in the labour market. Something needs to be done about this, and I am pleased about the strong emphasis placed here upon the need to press for something to be done about the matter. I therefore very much agree with the overall conclusion of Mr Andersson’s report. On the other hand, I disagree with a number of the amendments before us from the left side of the House where the investment of pensions savings in shares and bonds is clearly seen as an evil in itself. It is true that there have been problems with pension funds, which have suffered large losses in connection with the large falls in share prices, but I do not think that the answer is to stop introducing savings schemes for pensions. On the contrary, I think that better control of the risk in connection with pension funds’ investments must be ensured and that there must be stronger supervision on the part of the authorities. That is also something we can cooperate on at EU level in order to guarantee better risk management. We are all, of course, getting older, and it is not too much to ask that each of us take joint responsibility for saving up for old age and help ensure that future generations do not have unreasonable burdens placed upon them, for it is also a question of distribution between the generations.

 
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