2009 AGE Statement on Pensions: Ensuring adequate pensions for all in the EU - a shared responsibility for society

In the present document, after a brief description of AGE key objectives of pension systems (I), we examine some of the most important challenges remaining to complete pension reforms across the EU (II), present recommendations on how best implement these reforms by involving all respective stakeholders (III), and maximising the role of the Open Method of Coordination (IV).

Table of contents

Preface

Pension reform and the crisis

I. WHAT should be the key objectives of pension reforms - AGE goals

 Adequacy of old-age income
 Replacement rate
 Indexation
 Equal access and gender equality
 Portability of supplementary pension rights and solvency mechanism
 Information and financial literacy

II. WHY further reforms are needed - Remaining challenges
 Need to anticipate demographic ageing
 Guarantee a minimum pension to prevent poverty among the most vulnerable older people
 Restore equity and solidarity across the pension architecture
 Promote intergenerational solidarity to strengthen social cohesion
 Facilitate employment of older workers
 Enhance gender equality
 Ensure portability of supplementary pensions and improve solvency mechanism
 Improve information and encourage financial literacy

III. WHO should implement and monitor pension reforms - Role of stakeholders
 Member States
 European Commission
 European Parliament
 Bodies managing private funded supplementary pension schemes
 Social Partners and civil society organisations

IV. HOW to build support for pension reforms – Role of the Open Method of Coordination
 Social Protection Committee
 National and European older people’s organisations
 European Pension Forum

Conclusions

References

Glossary

Members of AGE Social Protection Expert Group

Date: 10/01/2009
Author: AGE Platform Europe
Organization: AGE Platform Europe
Reference: http://www.age-platform.eu/images/stories/EN/pdf_AGE-pensions_FINAL_UK_web.pdf
Only for Members: No
Content type: Good practises
Tags: demography, generations, senior generation
Categories: