AEIP takes note of the European Commission’s Supplementary Pensions Package and calls for a proportionate, evidence-based approach to the IORP II review
The European Association of Paritarian Institutions (AEIP) takes note of the Supplementary Pensions Package presented today by the European Commission. The package aims to encourage the wider adoption of supplementary pension schemes to help ensure the adequacy of retirement income for EU citizens.
AEIP fully supports the objectives of the pension package to expand supplementary pensions in Europe, enhance trust among EU pension savers and promote good returns for pension schemes’ members and beneficiaries.
AEIP will now proceed with careful technical and legal analysis of the IORP II proposal and will present a detailed position paper in the coming weeks. We believe that the legislative review of the Directive should represent an opportunity to reinforce the proportionality principle. We positively regard the European Commission Communication and the Recommendation on the use of and best practices for auto-enrolment, pensions tracking systems and pension dashboards, which can help drive the development of supplementary pensions in the EU.
AEIP appreciates the recommendation to promote the establishment and further development of PTSs across Member States. PTSs are highly valuable tools that provide individuals with a clear overview of their accumulated pension entitlements and projected retirement income, thus supporting better financial planning for old age. AEIP is a key partner of the European Tracking Service (ETS) on pensions, a project that helps mobile citizens to have a comprehensive overview of their pension entitlements accumulated across multiple Member States. The project also supports the establishment of new PTSs, with the long-term goal of developing an ETS platform connecting PTSs from all 27 Member States.
Simone Miotto, the Executive Director of AEIP said:
AEIP supports the European Commission’s ambition to strengthen supplementary pensions across the EU. Paritarian institutions, which are jointly managed by social partners on an equal basis, have a central role to achieve this goal. They are best positioned to help expand pension coverage and improve retirement income adequacy among EU citizens. Direct and continuous engagement with social partners, which is deeply rooted in the governance of these institutions, is essential to building trust and ensuring alignment with the specific needs of both employers and workers.
We are committed to working constructively with the European Commission and co-legislators to foster the development of supplementary pensions throughout the EU, ensuring more secure retirement income for citizens, while respecting the diversity of national pension systems and adhering to the principles of proportionality and better regulation.
For further information please contact: Roberto Silvestri, Policy Advisor on Pension & Financial Affairs
AEIP Disclaimer
The European Association of Paritarian Institutions (AEIP), founded in 1996, is a Brussels-based advocacy organisation representing social protection institutions, established and managed by employers and trade unions on a joint (or paritarian) basis within the framework of collective agreements. The Association has 33 members from 13 European countries, representing more than 460 social protection providers with €2.8 trillion in assets under management and delivering social protection benefits to over 118 million people.
All AEIP associate and affiliate members are not-for-profit paritarian institutions. Through dedicated working groups, AEIP deals, in particular, with EU-coordinated pension schemes, occupational pension funds, healthcare, unemployment, provident schemes, and paid holiday, health, and safety at-work schemes in the construction sector. Complementary to their role as not-for-profit social protection providers, AEIP members are also long-term institutional investors.