One of the biggest and most complex challenges for the European Union in the next decade is tackling the extraordinary demographic changes occurring across member states and the potential effects on economic growth, labour markets and social protection systems. As Europe’s population grows older, the financial strains on pension systems will intensify. The situation and outlook may differ between member states but ultimately there is a need to address the financial sustainability of pensions throughout the EU.

The financial services sector has played and will continue to play an important role in dialogue with the European Commission and the European Parliament and also in providing creative solutions and products for the long-term sustainability of pension systems.