By Laura Blows

Results from the public consultation on the EU-wide pensions Green Paper highlighted the need for pension reforms to support sustainability of public finances and adequacy of pensions, with higher retirement ages a necessity.

The first summary of results of the EU Green Paper consultation on how the EU can help to ensure adequate, sustainable and safe pensions for its citizens revealed:

1. The need for pension reforms to support sustainability of public finances and adequacy of pensions;

2. Higher effective retirement ages are necessary;

3. Pension tracking services are to be encouraged and facilitated so as EU citizens can keep track of all their pension entitlements;

4. A recognition of the important role for the EU in the policy coordination of pension policies by facilitating surveillance, coordination and mutual learning between the Member States;

5. EU regulations on occupational pensions should be reviewed to reap the full benefits of the Single Market.

The Commission received nearly 1,700 responses from across the EU including around 350 from member state Governments, National Parliaments, business and trade union organisations, civil society and representatives of the pension industry.

EU Commissioner for Employment, Social Affairs and inclusion, László Andor, said: "The results of this wide public debate are helping to shape our work on pensions. The consultation paper was clearly not just a statement - it has been echoed in national discussions, helping to encourage and facilitate change.

"If pension reforms are to be politically acceptable and economically effective in consolidating budgets and ensuring adequate pensions for the future, they have to take the social and labour market dimensions fully into account".

The Commission will present a follow up from the consultation after summer 2011, including possible legislative initiatives at EU level.

Home     More News


Other stories you may find of interest:

Models indicate Euro breakup would bring 40% drop in equities
If the eurozone were to break up, the most favourable option would be for Greece to leave, while a complete breakup would have the most severe consequences, according to SunGard

EFRP states position on EC 2020 paper
The European Commission's Working Paper, Consultation on the Future "EU 2020" Strategy has been largely welcomed by the EFRP

European Commission to take Spain, Belgium to EU Court of Justice
The European Commission has announced it has decided to take Spain and Belgium to the European Court of Justice The commission is to take Spain to court for refusing EU pensioners access to free medication while temporarily residing in Spain



This website is a part of Perspective Publishing Limited, registered in England No 2876166.