EIOPA and NBS hold a conference on personal pensions

Bratislava, 15 April 2014 – The European Insurance and Occupational Pensions Authority (EIOPA) and the National Bank of Slovakia (NBS) are holding on 15 April 2014 in Bratislava (Slovakia) an international conference dedicated to the creation of a single market for personal pensions in the EU.

The event is organised in the context of EIOPA’s work that has been initiated on request of the European Commission. It follows the publication in February 2014 of EIOPA’s Preliminary Report on the prudential regulation and consumer protection measures needed to create a single market for personal pensions.

Vladimir Dvoracek, Member of the NBS Bank Board, said: “Helping to improve the adequacy, sustainability and safety of pensions is imperative for the National Bank of Slovakia. I am glad that our institution is actively involved in this important policy debate through this conference and our participation in designing relevant regulatory actions in EIOPA”.

Gabriel Bernardino, Chairman of EIOPA, indicated: “The creation of a single market for personal pensions in the EU can play an important role in filling the current “pension gap” and, thus, raising the overall adequacy of pensions for all EU citizens. Furthermore, it has the potential to mobilise more sustainable long-term investment into the EU economy.

I am pleased that we could gather an impressive list of speakers from the consumer, industry, academia and public institutions to debate this challenge. I am thankful to our colleagues from the National Bank of Slovakia for their active participation in this debate and for the opportunity to organise this conference here in Bratislava”.

The conference aims at discussing regulatory changes that are needed to facilitate cross-border provision of personal pensions in order to improve the adequacy, sustainability and safety of pensions in Europe. Participants will speak about such challenges as the information needs of the personal pension plans holders, delivery of high-quality and low-cost pension solutions, and the possible influence of behavioural economics on the policy making process. The discussions should help to identify ways to deal with obstacles to the creation of a single market for personal pensions.

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Note for Editors:

The European Insurance and Occupational Pensions Authority (EIOPA) was established on 1 January 2011 as a result of the reforms to the structure of supervision of the financial sector in the European Union.

EIOPA is part of the European System of Financial Supervision consisting of three European Supervisory Authorities, the National Supervisory Authorities and the European Systemic Risk Board. It is an independent advisory body to the European Commission, the European Parliament and the Council of the European Union.

EIOPA’s core responsibilities are to support the stability of the financial system, transparency of markets and financial products as well as the protection of insurance policyholders, pension scheme members and beneficiaries.

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