Europe faces major challenges as its population gets older

As people live longer, providing for the older generation is putting additional strain on already stretched public finances across Europe. As this trend continues, the challenge facing member states is to find ways to make sure that pensioners have a comfortable retirement.

Insurers are major providers of occupational and personal pensions, delivering on their long-term promises for those that save during their working lives. Creating a regulatory environment that ensures a level playing field for all pension providers, that supports good governance and that provides clear information and certainty in preparation for retirement is key to ensuring that we are provided for in our older age.

That is why Insurance Europe welcomes and continues to engage with the European Commission in the implementation of the Institutions for Occupational Retirement Provision (IORP II) Directive, the debate on personal pension products and the role of pension provision in kick-starting growth through the Capital Markets Union.

Insurance Europe has also published A Blueprint for Pensions, which sets out the extent of the pensions challenge and suggests actions to help ensure that Europe’s citizens save enough, save well and save wisely for their retirement.