Monday, October 17, 2011

The Communist Party of Malta criticises the ‘neo liberal’ proposals for pension reform.

The Communist Party of Malta notes the proposals put forward during a recent ‘Business breakfast’ organised by the Malta Institute of Management, where it was suggested that the age of obligatory retirement would end, and that part of the pension system should be privatised. These proposals are of grave concern.

“Subtile maneuvers are being made to increase support for the introduction of the second pillar scheme, where the ultimate aim is that the pension system will gradually be privatised.”

The Communist Party of Malta understands that there is also a threat at European level, to link retirement to longetivity. This is a form of ‘modern slavery’ where the person is forced to continue working till his health conditions deteriorates. Medical research shows that although most people live longer, does not mean that the person will remain healthy and capable. The Communist Party stands firm against any increase in the retirement age.

The Party therefore calls on the ‘pensions working group’ to adopt policies that enhance the basic state pension, so that any social contributions go directly into a special fund dedicated only for pensions, as was also suggested by the pension working group, with the difference that it should be administered by the Malta Council for Economic and Social Development (MCESD), which includes unions and employers.

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