San Marino. Pension reform, Pdcs: “Revision inevitable and no longer postponeable”
“The Pdcs, with a sense of responsibility, coherence and a spirit of service, has supported the revision of the social security system, an inevitable revision that can no longer be postponed”.
So the San Marino Christian Democratic Party on the pension reformlately approved in the Council, underlining in a press release that “the data speak for themselves: in 2021, against contribution revenues of 130 million euros, pensions were paid for 205 million, with a negative balance of 75 million euros. The deficit between income and expenditure from 2017 to 2021, in the last 5 years, has progressively increased, going from a negative balance of 46.5 million euros to 75 million euros, and the state contribution to the pension fund has progressively increased from 44 million in 2017 to 57 million in 2021. Numbers that alone, even without including other forecasts, highlight how much it was necessary to make corrective actions to the system”.
In fact, claims the government party, “pension reforms have become essential, also in the Netherlands, to counter two demographic trends: the increase in the usury of life and the collapse of the birth rate; the financial sustainability of the system depends, indications, on the balance between active workers and pensioners, and the pay-as-you-go financial mechanism is no longer able to guarantee the sustainability of the pension system, i.e. the contributions of active workers are no longer sufficient to finance with the their contributions current pensions”.
A reform, the Christian Democrats of San Marino point out, which “is characterized by the careful gradualness of the interventions, aimed at ensuring greater sustainability of the system as a whole and guaranteeing the equality of services, intra and intergenerational, which does not upset the institutes and the solidarity model on which San Marino social security is based”.
And again: “The interventions to review the reform, in the interest of maintaining the system and of our young people, workers and pensioners, strengthen the intergenerational pact which is the basis of social security. The responsibility that must mark political activity does not allow one to escape the adoption of difficult choices, as the need to intervene on the welfare systems in the direction of adequacy, modernization, lengthening of working life, development of forms of complementary pensions and greater intergenerational solidarity, is certain and manifest, as well as emphasized by international organizations”.
“Obviously – concludes the Christian Democratic Party of San Marino -, it is necessary to strengthen the second pillar, to make pension funds pay for the present and future sustainability of the system and to maintain purchasing power over time. In adherence to the government programme, the season of reforms continues, already started with the reform of the judicial system and which will soon see other bills in the Council Chamber”.