AEIP publishes its Statement on the 2021 Pension Adequacy Report
AEIP published its Statement on the 2021 Pension Adequacy Report. With this our organization welcomes the fact that the report provides a comprehensive analysis of the current and future adequacy of old-age income in EU Member States, addressing several dimensions of the topic. AEIP also recognizes that the discussion on the topic is timely, as the importance of social security systems has become even more evident during the Covid-19 pandemic.
In particular, we consider as a positive development that the report makes a detailed analysis on the gender pension gap, which is a topic of high relevance for AEIP and its members. In addition, the long-term view on the adequacy of pensions in combination with the considerations on access to long-term care and healthcare is also a good approach from our perspective, which would ensure a coherent approach in the future policy making towards adequate social protection. We also welcome that the Commission’s analysis includes an overview of the current debates on the notion of social fairness, as part of risk sharing and resources in pension systems. Finally, we welcome that the report refers to non-standard forms of employment and their inclusion in the traditional social protection systems, as part of the Action Plan implementing the European Pillar of Social Rights.
At the same time, we are concerned that the 2021 edition does not dedicate a separate chapter for supplementary pensions, as it was the case with the 2018 Pension Adequacy Report. In addition, we believe that more emphasis should have been given to the European Semester – as well as the recent Recovery and Resilience Plans of the EU Member States – as a mechanism that can give more visibility to pension adequacy and ensure synergies and cohesion in policy making at the European level. We also consider that it would have been useful if the Report made a reference to EIOPA’s dashboards on the adequacy of supplementary pensions.
Please see here the full Statement.