As people are living longer and as the returns on investments are decreasing, Member States are facing difficulties to keep their pension systems working. The young generation is paying for the pensions of their parents and grandparents, knowing that without serious reforms the pot will be empty for them when they retire. All kind of new mechanisms need to be found to solve this intergenerational fight.
On Wednesday 2 May, the EU committee of the British Chamber organised a Breakfast Briefing for its members with Mr Karel Van Hulle. Mr Van Hulle, the Head of Unit of the unit ‘Insurance & Pensions’ of DG Internal Market & Services, gave a presentation on the needs for a reform of the occupational pensions. He spoke about the transposition and implementation of the directive in the Member States. Also, the role and advices of EIOPA were discussed and he presented the views of the European Commission.
After his presentation there was much interest on the part of the audience. The capital standards in the insurance industry and the timetable of the upcoming reforms were discussed. Also, there was an exchange of views on the role of the European Parliament regarding this topic.
Speaker: Karel Van Hulle, Head of Unit ‘Insurance & Pensions’, DG MARKT, European Commission
Topic: Why an EU reform on occupational pensions?