Insurers are major pension providers

Multi-pillar pension systems are widely seen as the most effective way to ensure the sustainability and adequacy of retirement provision, as traditional, state-run systems are put under increasing strain by greater longevity. As major providers of a wide variety of occupational and personal pensions, insurers are a key part of any multi-pillar system.

Key to ensuring that people are provided for in old age is creating a future-proof regulatory environment. This needs to foster the performance and diversity of pension products. It needs to enable insurers to play their role in tackling the pension saving gap while ensuring that there is a level regulatory playing field for all pension providers. And it needs to support good governance and ensure people have clear information and certainty in their preparations for retirement.

Insurance Europe engages with EU policymakers in all the debates that affect pension provision, including: the pan-European personal pension product (PEPP); the 2020 Solvency II review; the recommendations of the EC High-Level Expert Group on pensions; a financial transaction tax (FTT); the implementation of the Institutions for Occupational Retirement Provision (IORP II) Directive; and the role of private pension savings in kickstarting growth through the Capital Markets Union project.