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Dealing with the rising costs of Europe’s pensions


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Across Europe governments are faced with the increasing burden of providing pensions for their senior citizens. On 7 July the European Commission will present a Green Paper  launching a debate on the future of pensions in Europe. Life expectancy in Europe is rising rapidly but birth rates are falling:  in 2008 there were four people of working age (15-64 years old) for every EU citizen aged 65 years or over. By 2060 that ratio will drop to two to one.



The Green Paper is a joint initiative of Commissioners Làszlo Andor (Employment, social affairs and inclusion), Michel Barnier (Internal market and services) and Olli Rehn (Economic and monetary affairs). It will open a consultation period lasting several months, during which the Commission will welcome all views on how the EU can best support national pension schemes. Its goal will be to ensure that they can deliver adequate, sustainable and safe pensions to their citizens in the light of Europe’s demographic ageing and the current economic crisis.


 


Video material on this issue is available to download, free of charge and copyright. It includes two concrete case studies:


 


Sweden is leading the way with a very flexible system that grants significant tax benefits and higher pensions to people who stay longer at work.  The footage follows a pensions adviser and a 66 year-old pensioner who has decided to start a new job. 


 


The second story was filmed in Belgium and covers blue-collar workers who find it much tougher to stay on at work in physically demanding jobs.  A human resources manager from the Belgian multinational Umicore explains how the company retains its blue-collar workers, reassigning them to positions that are less physically demanding but equally rewarding. An employee then provides a firsthand account of the experience. 





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