Speakers
Chair
David Wright
President - EUROFI
Public Authorities
Marcel Haag
Director, Horizontal Policies - DG for Financial Stability, Financial Services and Capital Markets Union, European Commission
Jos Heuvelman
Member of the Executive Board - Dutch Authority for the Financial Markets (AFM)
Petra Hielkema
Chairperson - European Insurance and Occupational Pensions Authority (EIOPA)
Industry Representatives
Miquel Magem Ambrosio
Global Head of Sales and Distribution - Allianz SE
Michele Rendine
Group Chief Life & Health Officer - Generali
Other stakeholder & expert
Agustin Reyna
Director, Legal and Economic Affairs - The European Consumers Organisation (BEUC)
Objectives
This session will first take stock of the challenges that public and private pension schemes are facing in the EU and of the connection between effective pre-funded pension schemes and large capital markets and identify the issues to tackle on the supply and demand sides to further develop pre-funded pensions.
The panel will also discuss the impact that can be expected from on-going actions for the development of pillar II and pillar III private pensions and the priorities for the next European political cycle for enhancing pension sustainability and adequacy in the EU and better harnessing pension savings for the development of capital markets and economic growth.
Points of discussion
- Main challenges: What are the main challenges that public (pillar I) and private (pillars II and III) pension schemes are facing in the EU (demographics, labour markets, economic uncertainties, interest rates…)? How important are pillar II and III pre-funded pensions for the development of capital markets in the EU? What are the main obstacles to overcome to further develop pre-funded pensions in the EU on the supply and demand sides? What lessons can be learned from the PEPP?
- Priorities for the next European political cycle: Can a significant growth of pension assets in the EU be expected from the measures on the table (IORP II review, CMU proposals, MiFID / IDD reviews)? What further actions are needed to develop pre-funded pension schemes in the EU and better harness pension savings to develop capital markets? Can the PEPP be relaunched? How can different financial market participants (e.g. insurers, asset managers…) further contribute to developing pre-funded supplementary pensions in the EU?