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.

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