By European Insurance and Occupational Pensions Authority This report outlines the latest market developments in the occupational pensions sector, with a focus on IORPs and their cross-border arrangements. A factsheet summarizing the key findings accompanies the publication, providing a visual overview of the main trends in Europe's IORP sector for interested readers. Get the report here
Rich Western economies like Iceland, Luxembourg, and Norway can afford annual pensions north of €30,000 per retiree. Poland and Hungary spend a big slice of GDP on pensions, yet smaller tax bases keep payouts below €7,000. The seven-fold gap between Iceland and Hungary proves pension size tracks economic heft, not political will. everal generations are already saying they won’t retire due to financial anxieties. But what about today’s retirees? How are they making ends meet, and what do current-day pensions actually look like? This chart visualizes the latest figures...
In most European countries, the average income of people over 65 is lower than that of the total population, according to the OECD. In several cases, elderly incomes fall below 80% of the national average, contributing to significantly high poverty rates among pensioners. So, how do these levels of financial precarity vary across Europe? In which countries do pensioners face the highest levels of poverty? And how does elderly income compare to the national average? Income poverty rates measure the proportion...
By Estelle Nilsson-Julien For many older LGBTQ+ the prospect of moving into a retirement home is a worrying thought. But in Sweden, Spain and France new retirement communities for LGBTQ+ seniors are proving a hit. "Care home staff don't realise that they have LGBTQ+ residents - but based on population estimates we know they do. It's just that residents don't feel comfortable or safe being identified as LGBTQ+", explains Professor Paul Willis, an expert in social care. Older members of the LGBTQ+ community can "be at higher...
By Andrea Berlanda, Elisabetta Lodigiani & Lorenzo Rocco In this paper, we use the Survey of Health, Ageing, and Retirement in Europe (SHARE), complemented with register data on the share of the foreign population in the European regions, to examine the effects of migration on the level of informal care provided by children to their senior parents. Our main results show that migration decreases informal care among daughters with a university degree, while it increases the provision of informal care...
The strong momentum in the UK pension risk transfer (PRT) market is a well-known and well-developed trend. The last few years have been highly active in terms of both deal flow and new entrants as participants maintain a bullish position on the opportunity. As a provider of longevity reinsurance, we help insurers, as well as pension schemes, execute buy-ins and buyouts to manage the implications of changing life expectancies. This gives us an interesting perspective on what is taking place in the...
By Pension Europe PensionsEurope welcomes the European Commission (EC) initiative which aims to align crucial EU legislation concerning Sustainable Finance. PensionsEurope firmly believes that the competitiveness of the EU economy is vital, it is possible to reduce the administrative burden without undermining the EU's policy objectives regarding the green transition. However, any simplification should be carefully balanced to ensure that material sustainability information on risks, opportunities, and impacts-critical to informed investor decision-making-is preserved. Accordingly, the Omnibus package should aim to streamline...
PensionsEurope has urged EU lawmakers not to weaken the bloc’s sustainability reporting rules, and to pause a review of the Sustainable Finance Disclosure Regulation (SFDR) until there is clarity on the future of the green taxonomy. The trade association today published its official position on the EU’s ‘omnibus package’, which seeks to cut back Europe’s sustainability disclosure and due diligence requirements to make them more business friendly. While PensionsEurope agreed that current reporting obligations are too burdensome, it warned that some of...
European nations want to spend big on artillery, missiles and drones, but costly military pension commitments risk constraining those ambitious plans, according to previously unreported NATO-member defence budget data compiled by Reuters. NATO's European members are rushing to ramp up spending on military hardware as a bellicose Russia threatens their eastern flank and U.S. President Donald Trump's long-term commitment to European security appears suddenly in doubt. But for over a dozen NATO members, whose military spending Reuters analysed, pensions make up a large - and largely overlooked -...
Europe’s pension system is becoming increasingly unsustainable, Eiopa chair Petra Hielkema warned. She highlighted that women, self-employed workers and people with limited financial literacy are the most vulnerable, stressing the need for structural reforms to ensure long-term retirement security. The European Union's pension system is “no longer sustainable” in its current form and must undergo urgent reform to prevent millions of retirees from falling into poverty, Petra Hielkema, chairperson of the European Insurance and Occupational Pensions Authority (Eiopa), stated in...
