The EU pensions supervisor is looking for experts to join a “practitioners network on pension tracking systems”.
EIOPA said the expertise gathered from the network should benefit its work to identify best practices for the set-up of national pension tracking systems that facilitate access to individualised pension information.
The European Commission has asked for advice on this to follow-up on pension intentions outlined in its new Capital Markets Union action plan.
“National tracking systems, framed in an easy and intuitive way, should raise people’s awareness as regards to their future retirement income and engage individuals with a view to triggering adequate retirement planning actions,” the Commission said in its formal request for advice from EIOPA.
The advice is to cover front- and back-end aspects of the tracking tool as well as legal aspects, according to the supervisor.
More specifically, EIOPA said the practitioners network should share expertise and collect evidence with regard to areas including:
- the outline for the presentation of the information in the tracking tool, including the summary of key information;
- the implementation approach for launching the tracking tool and the accompanying communication initiatives;
- the identification of the relevant data points from pension products across different sources, for example state-run pensions, occupational pensions, personal pensions and the relevant sources/entities; and
- the interconnectivity with the European Tracking Service, which is currently under development.
The deadline for applications to join the practitioners network is Sunday, 31 January. The policy work has to be finished by 1 December 2021.
The Commission has also requested advice from EIOPA on coverage and indicators for pension dashboards. The dashboards are envisaged to strengthen the current monitoring of pension adequacy in member states.