Older persons are a significant part of the population of the European Union. In 2018 they totalled about 89 million, or 20% of the total population, including the UK population at the time.

The demographic changes in the EU in the decades to come will put increasing pressure on the adequacy and sustainability of pensions, while profound transformations in the economy and the world of work pose fundamental questions on how to make social protection systems, including pensions, fit for the future.

The 2021 Pension adequacy reportjointly prepared by the European Commission and the Social Protection Committee, takes stock of the current living standards of older people, and how they have evolved, as well as key reforms affecting the adequacy of pensions. The report looks into the future by projecting the changes in benefit levels for different career and family situations.

The report pays particular attention to how resources and risks are shared between men and women or between people with different income levels, highlighting persistent inequalities; and how pension systems can help tackle them.

Finally, the report delves into how the financing of pensions is evolving and what options Member States could consider in a changing economy.