I share your view, Mr van Velzen, that pension systems are under pressure and that we need to focus our minds on how to create security for an ageing population in the best way - a task that is both long term and urgent. It is urgent because reforms of pension systems will take time to implement and we have little time left for reflection, preparations and decisions. The ageing process is still at an early stage. But the right time for policy action is now.
Pension systems are under pressure, economically and therefore also politically.
And they are under pressure for two reasons. One is a failure of the past. The other is a challenge of the future. Let me start with the failure of the past. During the last 25 years, we have had slow employment growth and strong growth in our working age population.