Demographic Change (Communication)

Structural reforms of social insurance systems are long overdue. The Commission is absolutely right in urging their necessity. In the case of pay-as-you-go pension schemes it is correct to introduce a supplementary funded pension in view of the demographic trend. However, a complete switch to funded pension would lead to a double burden on the currently employed population. The Commission's call for a flexible handling of the retirement entry age deserves to be supported as long as the insurance community is not worse off by this decision.