ECA: EU Pillar II and Pillar III pensions not yet delivering the expected results

Despite the essential role that pension systems play in social protection and in strengthening capital markets in the European Union, the European Commission and #39;s efforts to support the development of supplementary pensions (those incomes that supplement state pensions), more specifically Pillar II and Pillar III pensions, have largely failed to deliver the expected results, the European Court of Auditors (ECA) said in a report published yesterday.

*Occupational pension funds in the EU manage assets worth around euro2.8 trillion
*Occupational pension funds serve 47 million employees and retirees

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