Insurers are key players in tackling the pension challenge

As traditional, state-run pension systems in Europe come under increasing strain from changing demographics, multi-pillar systems are widely seen as the most effective way to ensure the sustainability and adequacy of retirement provision. Insurers play a major part in multi-pillar systems, since they are significant providers of a wide variety of occupational and personal pensions.

43% of Europeans are not saving into a supplementary pension
Source: 2019 Insurance Europe pension survey of 10 000 people in 10 EU countries 

Key to ensuring that people are provided for in old age is creating a future-proof regulatory environment that fosters the performance and diversity of pension products. It needs to enable insurers to play their role in tackling the pension saving gap while ensuring that there is a level regulatory playing field for all pension providers. And it needs to support good governance and ensure people have clear information and certainty in their preparations for retirement.

Insurance Europe engages with EU policymakers in all the debates that affect pension provision, including: the implementation of the pan-European personal pension product (PEPP) (see Annual Report article below); the 2020 Solvency II review; the recommendations of the EC High-Level Expert Group on pensions; the EC Green Paper on ageing  the implementation and upcoming review of the Institutions for Occupational Retirement Provision (IORP II) Directive; and the role of private pension savings in kickstarting growth through the Capital Markets Union project.


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Nicolas Jeanmart

Head of personal & general insurance
+32 2 894 30 40

Margot Jilet Vesentini

Senior policy advisor, pensions
+32 2 894 30 52