EUROPE – The ability to transfer pensions across Europe ranks low on European business leaders’ agenda, according to a survey conducted for parcel delivery company UPS.

Just five percent of respondents to the UPS survey rated transfer of pension funds across European Union member states as important. The most important issue for the executives was tax harmonisation, with 37% ranking it as important.

A robust code of ethics was seen as important by 54% of respondents, with strong transparency of accounts procedure receiving 53% backing.

On the question of retirement, 66% of respondents said government should not penalise workers for working beyond retirement age, while 20% said companies should make larger contributions for shortfalls in government provision.

The survey was conducted for UPS by research firm Taylor Nelson Sofres, which polled 1452 European business leaders in October last year.