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Power panel

PensionsEurope executive tapped for European Commission retirement advisory group

Matti Leppala thinks the group will need to be innovative in its approach.

The European Commission has enlisted the help of Matti Leppala for its new High-Level Group on Pensions.

Mr. Leppala is secretary general and CEO of PensionsEurope, which represents national associations of pension funds on the Continent.

The high-level group is tasked with providing policy advice to the European Commission on issues related to ways of improving the provision, safety through prudential rules, intergenerational balance, adequacy and sustainability of occupational and personal retirement plans, in light of the challenges affecting retirement income and the development of Europe's retirement market, said a notice on the commission's website.

The group's work starts next month.

"The group will need a holistic and comprehensive approach that includes both the second and third pillars of the retirement provision and considers both adequacy and sustainability of pensions," Mr. Leppala said in a news release from PensionsEurope. "The group will need to look at innovative ways for further developing and strengthening workplace and personal pensions across Europe, and I am confident that concrete results will be achieved."

Other members of the group include academics and representatives from European insurance/reinsurance federation Insurance Europe and the European Trade Union Confederation.