Diamantopoulou calls for closer scrutiny of pensions

Date: 28/06/01

By John Shelley

SOCIAL affairs chief Anna Diamantopoulou wants formal powers to judge, and potentially condemn, member states' policies for defusing the pensions time-bomb.

In a paper due to be adopted by the European Commission next week, she says governments should be required to give her an annual strategy report on their plans for pensions reform. She would then analyse the success or failure of each of the member states' plans, based on commonly agreed pensions "objectives".

By giving herself a "bird's eye view" Diamantopoulou hopes to make it easier for member states to exchange best practices.

The annual reports would also put pressure on governments to get on with important but controversial reforms. In her paper, the Greek Commissioner says the aim should be to make sure all EU countries have a financially sustainable pensions system which can guarantee citizens adequate income when they retire.

In order to do this, she says, the Union must increase employment levels, reduce public debt and make sure private pension schemes are secure and reliable.

Diamantopoulou hopes member states can agree on her plans by the end of the year and that the first national strategy reports will be prepared for the summer of 2002.

Social affairs chief Anna Diamantopoulou wants formal powers to judge, and potentially condemn, Member States' policies for defusing the pensions time-bomb.