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Wednesday, November 11, 2009

More attention to be paid to the impact of the crisis on vulnerable older people

On the occasion of the UN Day of Older People AGE calls for more attention to be paid to the impact of the crisis on vulnerable older people.

The crisis shows that neither banks nor economists nor governments can prevent stock market instability and collapse, with its harmful effects on older people, in particular the most vulnerable. The crisis provides however an opportunity to review the efficiency and goals of our social protection systems and gives a clear warning against unconditional reliance on funded pension schemes. In a brochure entitled “Ensuring adequate pensions for all in the EU - a shared responsibility for society”, AGE members reiterate with new urgency their call for:

- A balanced and diversified pension architecture with adequate and reliable statutory schemes (the so-called first pillar);

- Strengthened security for individual entitlements in funded pension schemes;

- Measures to facilitate the retention of older workers in their jobs and access to quality employment for those seeking work;

- Specific attention to be paid to address the existing gender inequalities in old-age income and avoid creating new sources of inequalities for future cohorts; and

- Support to individuals with shorter or atypical employment careers to help them build sufficient pension rights.

“It is time to promote more solidarity between and within generations to cope with the long-term sustainability and adequacy of our social protection and pension systems”, said Anne-Sophie Parent, Director of AGE. “Solidarity is about sharing the responsibility for everyone’s well being between people of all ages, both active and retired, rich and poor, healthy and sick, and it aims to strengthen links within family, communities and the whole society”.

AGE new publication on Pensions “Ensuring adequate pensions for all in the EU: a shared responsibility for society” is available on AGE website at:


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