Thursday, July 08, 2010

EU Green Paper

The Commission has published its impatiently expected Green Paper towards adequate, sustainable and safe European pension systems today. The scope of the paper is very broad indeed, questioning the basics of the current EU pension legislation except - ostensibly - member states' responsibility for pensions. While initial reactions focus on incumbent battlefields such as solvency regimes for pension funds and retirement age, I would not be surprised at all if the intended discussion were soon to turn towards more comprehensive harmonisation, especially given the objective of adequate and sustainable pensions in the light of most member states' evident inability so far to reform their pensions systems sufficiently to rise to the double challenge of demographic shifts and inevitable fiscal austerity.

EFRP has started its own EU Pensions Debate website. It will be interesting to monitor the yield of the four month consultation period.

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