Adequate and sustainable pensions. Joint report by the Commission and the Council

Summary:

Several European Councils, from Lisbon Lisbon to Barcelona, have highlighted the challenge of an ageing population and its implications for the maintenance of adequate and sustainable pensions. This challenge was underlined in the conclusions of the Stockholm European Council in March 2001, which laid the ground for the open method of coordination on pensions. This process was finally launched by the Laeken European Council in December 2001 on the basis of 11 common objectives under three headings: safeguarding the capacity of systems to meet their social objectives, maintaining their financial sustainability and meeting changing societal needs.

National strategy reports on pensions were submitted in September 2002, in which Member States present in detail how they are trying to meet the 11 common objectives. Subsequently, the Commission services anaalysed the national strategy reports with a view to assessing the achievement of the 11 common objectives.