Community regulation remained disconnected from the social dimension. After 2000, demographic aging, the financial viability of the pension systems, and their impact on public finance and on capital and labor markets favored Community intervention. The strategy is oriented toward a global approach that includes common principles and objectives, and an interactive approach to economic policy, employment policy, and social welfare policy. These elements tend to preserve traditional systems and aim for solutions that guarantee secure and viable income with systems adaptable to the new economic context. However, they also operate within an "intermediate liberal" position, characterized by reduction of the replacement rate and enabling of complementary capitalization plans that translate into a new insertion of social factors into regulation.
