PensionsEurope welcomes that the European Commission has committed to developing best pension practices that could assist Member States facing demographic challenges. The development of a Pension Tracking System (PTS) was part of the Commission’s new Capital Markets Union action plan (of September 2020) and we welcome the development particularly in the light of the CMU. The PTS can be a very powerful tool to make people aware of their financial situation for the old age and can help them to take the right financial decisions. The PTS is one important element in a retirement system, and it should of course be accompanied by other measures fostering good retirement provisions. PensionsEurope supports the development of national pension tracking services and the European Tracking Service project.