Cookie Settings
Picture
Contatti
Picture

Sustainability and adequacy in EU public and private pension schemes

In breve

As reported by EUROSTAT* in 2019, pensions are the main income source for close to one quarter of the EU‑28 population. Therefore, it is very important that pensions should provide retirees with a decent standard of living and protect them from poverty.

Highlights:

  • Sustainability and Adequacy are the two main (conflicting) key objectives of multi-pillar pension systems: while population ageing, and macroeconomic shocks affect Sustainability in the Defined Benefit (DB) space, they reduce pension adequacy in the Defined Contribution (DC) schemes.
  • The fast switching from DB to DC plans by public and private sectors is making the adequacy issue ever more relevant.
  • To preserve adequacy, without affecting sustainability, EU-Governments should introduce incentives to defer individuals’ retirement choices, enhance funded pension pillars, and increase flexibility e.g. through partial retirement.
  • The insurance sector should blur out the distinction between saving and retirement/protection goals by mixing pension products with health and long-term medical care coverage, introducing guarantees of minimum return conditional to policyholders forgoing their capital early-redemption rights and accepting flexibility in the pay-out phase.
  • Citizens need to contribute more and for longer but the increase of non-standard work among the youngest does not help.

Download the full publication below

Core Matters ǀ Sustainability and adequacy in EU public and private pension schemes

* EUROSTAT, Ageing Europe – Looking at the lives of older people in the EU, 2019

Competenze
Investimenti Responsabili
Insights
Chi Siamo
Contatti
Picture
Picture

© Generali Investments, tutti i diritti riservati. Questo sito web è fornito da Generali Investments Holding S.p.A. in qualità di holding delle principali società di gestione del risparmio del Gruppo Generali che detengono, direttamente o indirettamente, la maggioranza delle partecipazioni nelle società sotto elencate (di seguito, congiuntamente, "Generali Investments"). Questo sito web può contenere informazioni relative all'attività delle seguenti società: Generali Asset Management S.p.A. Società di gestione del risparmio, Infranity, Sycomore Asset Management, Aperture Investors LLC (inclusa Aperture Investors UK Ltd), Plenisfer Investments S.p.A. Società di gestione del risparmio, Lumyna Investments Limited, Sosteneo S. p.A. Società di gestione del risparmio, Generali Real Estate S.p.A. Società di gestione del risparmio, Conning* e tra le sue controllate Global Evolution Asset Management A/S - incluse Global Evolution USA, LLC e Global Evolution Fund Management Singapore Pte. Ltd - Octagon Credit Investors, LLC, Pearlmark Real Estate, LLC e Generali Investments CEE. *Comprende Conning, Inc., Conning Asset Management Limited, Conning Asia Pacific Limited, Conning Investment Products, Inc. e Goodwin Capital Advisers, Inc. (collettivamente, "Conning").

Note Legali
Informativa Sui Cookie
Informativa Sulla Privacy
Termini e Condizioni
Copyright
Glossario