A leaked white paper has revealed the European Commission’s suggestions for pension reform, reports Investment & Pensions Europe (IPE).
According to the leaked draft, says IPE, the commission’s suggestions include the abolition of mandatory retirement ages and the provision of financial support for member states seeking out international expertise on implementing pension reform and new retirement policies.
In addition to eliminating mandatory retirement ages, the Commission recommends “promoting healthy aging at work, providing access to life-long learning, adapting work places to the requirements of older workers and developing opportunities for extended working lives,” writes IPE.
“As a result, pension reforms already in place will see lower replacement rates from public schemes, while complementary retirement savings will be expected to play a more important role.”
The complete article is available on IPE’s website.