The design of European supervision of pension funds

Within the European Union there is a large variety of old age income support systems. Many member states have a mixture of state provisions, employment-based pensions (also called occupational pensions), and individual pension savings. In this paper Dirk Broeders (DNB), Niels Kortleve (PGGM), Antoon Pelsser (UM) and Jan-Willem Wijckmans (PGGM) focus on the second pillar, that of employmentbased pensions. In addition to a single harmonized framework for all different employment-based pension systems throughout the European Union, they propose a supervisory framework that is consistent in the methods and instruments used, but that is still tailored to the specific characteristics of each individual pension system.