30 April 2026 08:22 UTC · European Commission · EU Commission Press Release · Source · Email X Link

European Commission says supplementary pensions support retirement security

Key points

Supplementary pensions to complement public pensions
Three priorities: tracking, oversight, auto-enrolment

TL;DR

European Commission notes a demographic shift that pressures pay-as-you-go public pensions and frames supplementary pensions as a complement to ensure adequate retirement income.
European Commission calls for national pension tracking systems linked to a European Tracking Service to increase transparency and help mobile workers follow rights across borders.
European Commission urges Member States to adopt pension dashboards for oversight and to consider auto-enrolment where no mandatory occupational schemes exist.
European Commission proposes legislative updates to the PEPP and the occupational pension schemes directive to boost participation, transparency and reliability of supplementary pensions.

Original text

European Commission - Speech [Check Against Delivery] Speech by Commissioner Albuquerque at the 605th plenary session of the European Economic and Social Committee (EESC) at the high-level debate on supplementary pensions for a Savings and Investments Union Brussels, 30 April 2026 Ladies and gentlemen, good morning, Our discussion today is not just about pension frameworks or policy tools. This is about people. About financial security in later life. We are living longer, and this is one of Europe's greatest achievements. But it also brings new responsibilities and challenges. Across Europe, and indeed across the world, we are facing a profound demographic shift. Fewer people are entering the workforce, while more people are retiring and living longer in retirement. This creates a growing imbalance that we cannot ignore. Our public pension systems - pillar one - are, and will remain, the foundation of our social model. Nothing in our proposals seeks to change that. Pay-as-you-go systems rely on a simple balance: today's workers finance today's retirees. As that balance shifts, pressure inevitably builds. This is not a distant risk. It is already happening. And it raises a fundamental question for our citizens: Will I be able to maintain my standard of living when I retire? Because this is what is at stake. In my visits across Member States, I meet regularly with social partners, both trade unions and employer representatives. What I see is a growing awareness of the challenges we face, and a willingness to engage constructively on solutions. Supplementary pensions are part of that discussion. They are a way to help people build additional security over the long term, and to support adequate incomes in retirement. This is the spirit behind the Commission's supplementary pensions package. We fully respect Member States' competences and the central role of social partners. Our objective is to support, to share best practices, and to help create the conditions for solutions that work for citizens. Let me briefly highlight three key elements. First, better information. We encourage the set-up of national pension tracking systems, giving citizens a clear overview of what they have built up over time and what they can expect when they retire. This is about transparency and about empowering citizens to plan their future with confidence. Linked to a European Tracking Service, these tools will also allow mobile workers to follow their pension rights across borders. Second, better oversight. We call on Member States to establish pension dashboards for assessing the adequacy of their pension systems. Dashboards provide a tool for policymakers and stakeholders to monitor and analyse pension trends, system sustainability, and coverage across different sectors or populations. And act accordingly. Third, broader participation. In Member States without mandatory occupational pension schemes, we recommend introducing auto-enrolment - with appropriate safeguards and in full respect of national systems and the role of social partners. Instead of asking people to take the first step - which many tend to postpone - auto-enrolment ensures that individuals are automatically included in a pension scheme linked to their employer or professional organisation, while always retaining the freedom to opt out. Where properly designed, this has proven effective, especially among younger workers and those on low- to middle-income. Auto-enrolment is not a financial instrument – it is a tool for broader inclusion. We are also strengthening the framework for both occupational and personal pensions. The Commission has proposed legislative updates on the Pan-European Personal Pension Product Regulation – the PEPP - and the occupational pension schemes directive. Both proposals aim to facilitate greater participation, transparency and ensure that supplementary pensions deliver real benefits to individuals, while remaining a reliable complement to public pensions. Ladies and gentlemen, Adequate retirement income requires a balance. Public pensions must remain a strong foundation, while supplementary pensions provide additional, fair support to help citizens maintain their standard of living in retirement. This is not just a European challenge; it is a global one. But our response must be European: rooted in fairness, solidarity and responsibility. Because in the end, this is about trust. Trust that Europeans will have adequate pensions when their time comes. And that is our collective responsibility. Thank you. SPEECH/26/937

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