European adviser body head calls for pension reform
The European Federation of Financial Advisers and Intermediaries (FECIF) has called for European state-members to reform social welfare and warns about the need for European citizens to build private pension savings to insure an adequate income after retirement.
FECIF says the crisis has provided an opportunity to review the efficiency and goals of pension systems at both national and EU level and stimulating private pension provision would help consolidate national budgets.
“The adequacy of pensions is now centre stage for governments and public alike,” said David Charlet, FECIF chairman. “Member States need to consolidate their budgets and reform social welfare, still under austere conditions in most cases. People will need to build complementary occupational and, if possible, private pension savings.”
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