BREAKING NEWS

Yacimovich calls for gov't to provide pension safety net

By JPOST.COM STAFF

AUGUST 9, 2011 11:43

MK Shelly Yacimovich (Labor) called on the government to must provide a safety net for pensioners and those close to retirement as soon as possible. The government should act to secure pension funds of those who live from the payments before the funds crash, Yacimovich said in a statement Tuesday.

After the pension crisis in 2008, she said, the Finance Ministry announced a safety net only after a public outcry and should today take preemptive action. The government, Yacimovich added, "is directly responsible for the public's pensions, especially considering that it has so far done nothing to address the centralization and pyramid" structure of pension funds. "Public funds funneled to investment companies and greedy adventurers" have not been subject to proper regulation, she said.

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