Insurance Europe

As Europe’s pension systems come under increasing strain, a new paper authored by young people issues both a warning and a way forward. “These ideas show how much young people care about securing a fair, sustainable retirement for themselves and future generations,” the authors write.

The paper was developed by young people from across Europe involved with the European Youth Parliament (EYP). They came together at international forums in Thessaloniki and The Hague, as well as at European Retirement Week in Brussels, where they collaborated with experts to explore the pension challenges confronting their generation.

They found that Europe’s pension systems are under serious pressure from ageing populations, changing work patterns, and growing inequalities. Young people warn that without reform, they will face later retirement and less financial security, placing an undue burden on their generation.

The findings offer practical proposals to make pensions fairer and more reliable, including:

• Ensuring minimum public pensions to guarantee dignity in retirement
• Recognising caregiving and career breaks in pension calculations
• Supporting private investments for younger and low-income workers
• Work towards auto-enrolment for occupational pensions
• Extending pension coverage to those in non-standard employment
• Improving financial education, especially for women and vulnerable groups
  
  

"The paper proved an invaluable educational opportunity for all involved, and a particularly relevant call to action for insurers, employers, and policymakers. We hope it leads to a future with more financial literacy, security, and fairness, for all," said João Silva, one of the authors of the paper. These insights were shared during the 15th International Conference in Brussels on the 5th of June 2025, gathering industry professionals and leaders, decision makers, and over 50 interested young Europeans.

Nicolas Jeanmart, Head of Personal and General Insurance, Insurance Europe, remarked: “This paper shows young people grasp the significance of Europe’s pension challenge. Some of their proposals align with our industry’s priorities such as recognising diverse career path, boosting private savings to complement state pensions and improving financial education. Insurers stand ready to help close the savings gap and ensure retirement security for all.”

The voices of young people are a clear call to action, urging policymakers to listen, innovate, and collaborate on reforms that ensure dignity and security in retirement for all Europeans.