Against the background of the rapid ageing of our societies and the increasing pressure that pension provision is in turn placing on national budgets, Insurance Europe welcomes the comprehensive approach to pensions that the European Commission has taken in its White Paper ”An Agenda for Adequate, Safe and Sustainable Pensions” of February 2012.
Insurance Europe especially welcomes the Commission’s call for the strengthening of the role of complementary retirement provision — an area in which the insurance sector is already playing an important role. Insurance companies have unique expertise in offering and efficiently administering sustainable pension systems and developing innovative insurance solutions. With proven actuarial expertise, built up over the last two centuries, life insurers can provide sustainable retirement benefits. Furthermore life insurance products can provide complementary benefits to public pensions through annuities, survivor benefits and long-term pension savings.