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EUROPEAN COMMISSION
Brussels,
COM(2010) 365/3
GREEN PAPER
towards adequate, sustainable and safe European pension systems
{SEC(2010) 830}
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GREEN PAPER
towards adequate, sustainable and safe European pension systems
1.
INTRODUCTION
An adequate and sustainable retirement income for EU citizens now and in the future is a
priority for the European Union. Achieving these objectives in an ageing Europe is a major
challenge. Most Member States have sought to prepare for this through pension reforms.
The recent financial and economic crisis has aggravated and amplified the impact of the
severe trend in demographic ageing. Setbacks in economic growth, public budgets, financial
stability and employment have made it more urgent to adjust retirement practices and the way
people build up entitlements to pensions. The crisis has revealed that more must be done to
improve the efficiency and safety of pension schemes1 which not only provide a means for a
decent life in old age but also represent the reward for a lifetime of work.
In his political guidelines for this Commission, President José Manuel Barroso highlighted the
importance of adequate and sustainable pensions for strengthening social cohesion:
"Millions of Europeans are wholly dependent on pensions. The crisis has shown the
importance of the European approach to pension systems. It has demonstrated the
interdependence of the various pension pillars within each Member State and the importance
of common EU approaches on solvency and social adequacy. It has also underlined that
pension funds are an important part of the financial system. We need to ensure that pensions
do the job intended of providing the maximum support to current and future pensioners,
including for vulnerable groups."
Member States are responsible for pension provision: this Green Paper does not question
Member States' prerogatives in pensions or the role of social partners and it does not suggest
that there is one 'idea