António Cotrim / Lusa
Maria Luís Albuquerque
New Strategy for the Union of Savings and Investments, presented by Maria Luís Albuquerque, provides recommendations for the automatic registration of workers in complementary pension plans.
The European Commission considers that current legal regimes for the European Union Reform Savings (EU) are not working and intends to advance with significant changes.
In the strategy for the Union of Savings and Investment, presented by Portuguese Commissioner Maria Luís Albuquerque, Brussels proposes the creation of a more robust complementary pension sector, including a regime of Automatic registration for workers.
During the document presentation conference, Maria Luís Albuquerque highlighted the importance of financial reform: “This is an opportunity to step forward to Europe’s financial and economic future.”
The strategy It is divided into four areas: Individual savings, investments and financing, integration and efficient supervision, and the theme of reforms is inserted in the first category.
The European Commission acknowledges that current legal frameworks for complementary pensions, such as the institutions of professional pension plans (IRPPP) and the Pan-European Product of Individual Pension (PEPP), have not been effective. Among the main challenges pointed out are the fragmentation of markets, restrictive regulation, high commissions and lack of knowledge by workers and employers about these products.
To face these difficulties, Brussels plans to advance with recommendations, by the end of the year, on the Automatic registration in pension plans complementary. In this model, companies automatically enroll workers in a private management plan, explains the. The commission points out that this approach has already succeeded in some Member States and should be expanded to the entire EU.
The commission additionally defends the implementation of pension tracking systems for sensitize citizens About the expected income in the reform, encouraging better financial planning. Between October and December, the community frames of professional pension and PEPP plans will be reviewed, with the objective of increasing participation in these regimes.
