Understanding Supplementary Pension Schemes in Europe
Explore the comprehensive information on supplementary pension schemes in Europe, covering key issues like scheme classification, post-retirement arrangements, survivor pensions, and more. Learn about the implementation, communication background, and ongoing developments related to pension data collection both in Europe and outside.
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Presentation Transcript
The SNA Supplementary Pension Table Paul Konijn Eurostat
The 2008 SNA on pensions Enhanced reporting on pensions Flexibility for unfunded pension schemes sponsored by government Supplementary table presenting pension entitlements in social insurance >> ESA 2010 (concepts and data transmission)
The supplementary table Nature of pension schemes (manager/type) >> Opening stock entitlements Transactions and other flows Closing stock entitlements
Implementation in Europe ESA "Table 29" Compulsory transmission by countries to Eurostat Every 3 years, starting end-2017 For reference year t-2 (there 2015 in next transmission) Technical Compilation Guide (Eurostat/ECB) Training Courses and Workshops Bilateral visits and clarifications Grants
Some key issues tackled Scheme classification Hybrid schemes, post-retirement arrangements Delineation of "pensions" Treatment of survivor pensions, disability benefits Treatment of social-assistance like features Cases of 'minimum pensions' Discount rate Use of a common harmonised rate, consistent with Ageing Working Group 5 Eurostat
Communication Background in Europe - strong fiscal sustainability and government debt focus Plan for coordinated release and communication in March 2018 Focus on household assets in the table 6 Eurostat
Implementation of the table outside Europe OECD proposal for data collection Collect during 2018 (then every 3 years) First reference year: 2015 Template broadly in line with Eurostat table Remaining issue on the discount rate to be applied Use of Projected Benefit Obligation (PBO) approach? Consultation to explore these issues, as well as general ability of countries to provide data 7 Eurostat
Questions for the AEG Take note of experiences in Europe and plans for data collection for non-European countries Given the experiences, can we conclude that the overall table is proving fit for purpose? Are there borderline (conceptual) issues which remain to be resolved? What should the main communication focus be when communicating the table to users? Eurostat
