Pension data and statistics

PensionsEurope supports the ECB, EIOPA, Eurostat, and OECD common effort to align their reporting standards for pension funds. We believe that reporting standards alignment should be done together with the national competent authorities (NCAs) as much as possible. We support the principle to leave flexibility to Member States in data collection and distribution process. A starting point should remain the so-called ‘one-stop-shop’-concept, and considering the amount of information already available, the NCAs should play a central role therein.

PensionsEurope believes that financial entities can be unequivocally identified, and one worldwide identifier should thus be used for that purpose.

We support the use of the LEI code, which is a G20 endorsed. The LEI is a globally verifiable unique identity code with a large number of information about a company, including its identity and group structure. The LEI is currently being adopted as the single most important identifier in the global financial ecosystem.

PensionsEurope welcomes the European Commission’s initiative to assist the EU and Member States in monitoring the adequacy and sustainability of pension systems at macro-level through the development of a pension dashboard. We also support the development of national PTSs and the European Tracking Service project, as we believe that 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. It should, however, be accompanied by other measures fostering good retirement provisions.