Towards adequate pensions in the EU
A recent report issued jointly by the Social Protection Committee and the European Commission on pension adequacy, analyses how sustainable pensions can help prevent poverty at retirement age. In line with one of the principles of the European Pillar of Social Rights, Member States are increasing their efforts to ensure a high level of social protection, including pension adequacy, through facilitating mutual learning and exchange of best practices.
Compared with a decade ago, one can notice that there are fewer older Europeans at risk of poverty or social exclusion which increases with age. More than half of all older people at risk of poverty or social exclusion in the EU are aged 75 or over. This is due to the fact that while needs increase with age, the value of pensions decreases during retirement. That is why sustaining adequate pensions in ageing societies is key to the economic growth, as pensions are both the main source of income for older Europeans and an important component of public expenditure.
The report adopts a series of complementary approaches that, taken together, provide an assessment of the current pension reforms across the EU.
For more information on this report, click here