SOCIAL SYSTEM OF PENSIONS – PRESENT AND PERSPECTIVES

In accordance with the Treaty on European Union, pensions are the responsibility of Member States. However, in this policy area, European Member States share common concerns and challenges: an aging population, public finance sustainability, compatibility and modernization of pension systems. Thus the EU has been particularly active in the pension industry by establishing a legislative framework for occupational pension providers. Directive institutions for occupational retirement provisions (IDPO), adopted in 2003, provides an opportunity to establish pan-European institutions for occupational retirement provision, allowing the basic pension institutions in a country offering their services in different EU countries.