"Member States that fail to get their pension systems into order will come under serious pressure", Andor warned. "But it would be wrong to see the EU as the 'bad cop', keen on ensuring that tough pension reforms are conducted by reluctant Member States. "I would stress the positive and constructive partnership we are building between European and national authorities."
In a speech notable for the absence of any mention of the increasingly contentious issue of Solvency II, Andor focused instead on the importance of good governance and active ageing. "Without opportunities for active ageing, pension reforms that raise the retirement age will fail", he said.
Pension funds can help achieve this goal, he said, by allowing older people to combine earned income and a pension, by making sure that working longer "is not penalised" and by helping to adapt working conditions instead of paying invalidity benefit.
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