Two reports for pension schemes launched this week at the annual Pensions Europe conference in Brussels.

The reports both focus on the development of how workplace pensions are considered across Europe.

The first report, 'Towards a New Design for Workplace Pensions', aims to provide a framework that will enable schemes to achieve good outcomes for participants and beneficiaries, by linking the best of Defined Benefit (DB) and Defined Contribution (DC) schemes.

Using experiences from a range of European countries with DB systems, it identifies the features of a good pension system – adequacy, sustainability, reliability, and efficiency.

Pensions Europe said it intends to launch a follow-up report that will look at how these principles might be applied, and looking at the impact on the employer and the employee, as well as the political impact and impact on the regulator.

The second report, 'Principles for Securing Good Outcomes for members of Defined Contribution Pension Plans throughout Europe' discusses the evolution of DC pension plans.

It considers what a good outcome for the pension system might be and sets out the principles that will support this, including: plan design, communications, administration, investments, costs and charges, and decumulation.

Janwillem Bouma, chair of Pensions Europe, said the launch of the reports prompted debate among industry thought leaders at the conference.

He said: "Attracting representation from over 20 countries, our annual conference brings together leading thinkers and speakers, covering the wide range of issues impacting on pension funds.

"We designed these two reports to stimulate discussion and debate around defined benefit and defined contribution pensions."

"Good outcomes need to be at the heart the pensions industry and we are confident that the thinking outlined in these publications will help the industry to develop going forward."

First published 09.06.2017

Lindsay.sharman@wilmingtonplc.com