European Commission Pushes Auto-Enrolment Supplementary Pensions Reform

The European Commission held a Brussels workshop on "Saving for Retirement through Auto-enrolment and Supplementary Pensions," with Commissioner Albuquerque delivering closing remarks. She noted that Europe's pension systems face growing strain from longer lives, lower birth rates and changing labour markets, and that without adaptation too many people will face a sharp drop in retirement income while public budget burdens grow. The Commission's supplementary pensions package adopted last November aims to strengthen supplementary pensions while mobilising broader EU investment. Only around 20% of Europeans participate in occupational pension schemes and only 18% hold a personal pension prod…