Folio 53

Retirement is built upon intergenerational solidarity. Our re-distribution technique is proof of this solidarity. Funded pension plans cannot obviate the question of the renewal of generations and their ability to contribute–the future of employment—which is the sine qua non for the sustainability of retirement systems.

Considering today’s deficits, immediate responses are required. They do not suffice for policies to be carried out over the long run, such as those for retirement, and correspond neither to the collective choice of the social model: solidarity or the end of social cohesion, nor to individuals’ needs with regards to a work-life balance.

The most consequential parameter remains the steady, lasting flow of contributions which depends on the security of career paths Relying solely on age amounts to ideological blindness, whether in the name of maintaining acquired advantages or conversely, in denying social progress.

Yes, pushing the age back from 63 to 67 in Spain today and from 57 to 65 In Italy yesterday is saving some money. However, this would assume that individuals over 50 be employed.  In Belgium, only one out of every three is.

British experts aren’t satisfied with measures permitting retirement at 70. No, these self-avowed inspired gentlemen are suggesting 80.

Recently in Indonesia, scientists discovered a rather « young » coelacanth, a fish whose origins go back some 360 million years. When does he get to retire?