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The European Commission yesterday presented its White Paper on pensions which includes their plans and recommendations for achieving adequate pensions, safe and sustainable. Among the measures advocated in this document, Brussels advocates provide complementary private pension plans by encouraging social partners to create and Member States to optimize the tax incentives and other.
It also calls for improved safety of these supplemental plans, such as through the r eview of the directive on occupational pension funds and improving consumer information. It also asks that pension plans are compatible with mobility, protect, through legislation, the pension rights of citizens traveling and promoting the establishment of pension tracing services throughout the EU. Thus, according to the Commission, it is possible to provide citizens with information about their pension rights and expectations about their retirement income.
In addition, Brussels encourages Member States to encourage the lengthening of working life, linking the retirement age to life expectancy, restricting access to early retirement and eliminating the differences between men and women on pensions . It also advocates the creation of better opportunities for older workers, encouraging social partners to adapt the workplace and labor market practices, and utilizing the European Social Fund for older workers out of jobs.
Finally, in this set of guidelines that Brussels has in its White Paper stresses that we must continue to monitor the adequacy, sustainability and security of pensions and support reforms in the Member States on pensions.
RAISE THE RETIREMENT AGE IS IMPORTANT
The Commission notes that pensions c ore and exert more financial pressure on national budgets, particularly with the added factor of the financial and economic crisis. To support these efforts, has published the White Paper that is based on the results of an extensive consultation that was launched in July 2010. It examines how the EU and Member States can work to address underlying problems that cross the pension systems.
“Ensuring adequate pensions for the future is possible, if we fulfill our commitments to the end of reform. We already see the impact of aging of the baby boom babies are retiring and fewer and fewer young people entering the market labor. But it’s not too late to overcome these challenges, “said László Andor, Commissioner for Employment, Social Affairs and Inclusion in the EU, in the presentation of the document. He noted that increasing the retirement age is important and confirmed that a recent Eurobarometer survey has shown that many Europeans remain in the labor market even after the age where they could collect a pension if conditions were suitable.
“A POSITIVE STEP IN THE RIGHT DIRECTION”
Aviva Institute Pensione s Savings and assessed the content of this White Paper the European Commission, destancado that the proposals are a “positive step and in the right direction, but it is necessary to take firm action quickly.” In the words of Guillermo de la Dehesa, Chairman of the Board of Experts of Aviva Institute, “it is time to provide a novel approach, an agreement between the European Commission, member countries and the insurance industry to promote a culture of deeper savings. ” In his opinion, it is necessary to “change the attitudes of people from saving and help them better understand the financial decisions that need to take.”
Meanwhile, Ignacio Izquierdo, CEO of AVIVA, aputna that “awareness of how people expect to receive in retirement would encourage them to think about their planning for retirement. Therefore we are convinced that providing an annual report on pensions would urge consumers to take action. All European citizens should receive, annually, a single report that would allow them to estimate the income they would receive ahead of his retirement pension and to integrate both such as public and private employment. ” He adds “We encourage the European Commission and Member States insurance industry to work together to establish minimum standards in the annual pension and ensure that citizens receive discrepant information.”
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