Скачать презентацию Working for pensions in Europe Ms Chris VERHAEGEN Скачать презентацию Working for pensions in Europe Ms Chris VERHAEGEN

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Working for pensions in Europe Ms. Chris VERHAEGEN , Secretary General EFRP FIAP International Working for pensions in Europe Ms. Chris VERHAEGEN , Secretary General EFRP FIAP International Conference 31 May 2007, Varna

Key messages 1. EFRP is the European industry representative focussing on funded and workplace Key messages 1. EFRP is the European industry representative focussing on funded and workplace pension provision 2. EU-enlargement with 12 MS has increased diversity in EU pension systems 3. Europe should reflect on a “European pension model” combining EU-15 and EU-12 systems 2

The EFRP 29 Member Associations • 16 EU Member States (EU-15 – EL) + The EFRP 29 Member Associations • 16 EU Member States (EU-15 – EL) + HU + SK • 5 non-EU (CH, Guernsey, HR, IS, NO) Core Membership : funded andworkplace pension providers Representative organisation EU institutions, OECD and IOPS with 75 million. EU citizens rely on EFRP members for their supplementary retirement income - Total assets managed = 3, 6 trillion Euro (2005) 3

EFRP Mission Statement EFRP stands for: • Affordablepensions for large sections of the population EFRP Mission Statement EFRP stands for: • Affordablepensions for large sections of the population • helping to maintain living standards in retirement • that provide a degree of intra- and inter-generational solidarity and, which are • administered through funding institutions • which can benefit from a European passport taking into account: • the principles of subsidiarity national diversity and 4

EFRP key partner in EU A partner for: • contacts with industry representatives across EFRP key partner in EU A partner for: • contacts with industry representatives across EU • influencing EU decision making • obtaining selected EU-level information • delivery of in depth analysis on some key issues for private pension providers 5

Common challenges in the EU • All Member States face similar challenges: – – Common challenges in the EU • All Member States face similar challenges: – – – Ageing societies Budgetary deficits in MS Low economic growth Rigid national labour markets Globalisation • EU is developing, within its competence, a policy mix, affecting public and private pensions • EU-27 pension modelling is needed 6

EU-15 multi-pillar model Social assistance programmes for the elderly First Mandatory – PAYG- publicly EU-15 multi-pillar model Social assistance programmes for the elderly First Mandatory – PAYG- publicly financed and managed Second Occupational pension linked to paid work - usually organised as group schemes up in the set framework of a company a group of companies of , or sectors of industry professional groups or Third Voluntaryindividual savings for retirement 7

EU-15 multi-pillar model in reform Social assistance programmes for the elderly First Mandatory – EU-15 multi-pillar model in reform Social assistance programmes for the elderly First Mandatory – PAYG- publicly financed and managed Funding elements (DK, SE, FI) + demographic funds + increasing retirement age Second Occupational pension linked to paid work - usually organised as group schemes up in the set framework of a company a group of companies of , or sectors of industry professional groups or Personal Pensions (UK) - PRSA (IE) – Riester (DE) + shift away from DB to DC Third Voluntaryindividual savings for retirement 8

EU-12 (NMS) multi-pillar model Social assistance programmes for the elderly First Second Third Mandatory EU-12 (NMS) multi-pillar model Social assistance programmes for the elderly First Second Third Mandatory – PAYG- publicly financed and managed PL- LV → notional defined contribution systems (NDC) Mandatoryfunded individual accounts operated by private pension management companies Voluntaryfunded individual accounts (occupational and individual) 9

EU-27: Divergence → convergence 2 nd pillar 3 rd pillar voluntary 3 rd pillar EU-27: Divergence → convergence 2 nd pillar 3 rd pillar voluntary 3 rd pillar 2 nd pillar mandatory 1 st pillar – State pension Social assistance programmes for the elderly PAYG PRIVATE 3 rd pillar individual 2 nd pillar occupational STATE EU-12 EU-27 FUNDED EU-15 10

2 nd pillar - workplace government social partners STATE Mandatory FUNDED 3 rd pillar 2 nd pillar - workplace government social partners STATE Mandatory FUNDED 3 rd pillar – individual Acknowledge and consistently label product diversity – who is designing the scheme company level Voluntary 1 st pillar – State pension Social assistance programmes for the elderly PAYG PRIVATE EFRP Proposal EU-27 pension pillar terminology (1) 11

Key messages 1. EFRP is the European industry representative focussing on funded and workplace Key messages 1. EFRP is the European industry representative focussing on funded and workplace pension provision 2. EU-enlargement with 12 MS has increased diversity in EU pension systems 3. Europe should reflect on a “European pension model” combining EU-15 and EU-12 systems 12

Contact EFRP Koningsstraat 97 rue Royale 1000 Brussels Belgium Tel. : +32 2 289 Contact EFRP Koningsstraat 97 rue Royale 1000 Brussels Belgium Tel. : +32 2 289 14 14 Fax: +32 2 289 14 15 [email protected] org www. efrp. org 13