The European Commission is searching for a firm to conduct a study of global automatic-enrollment programs to inform its future policies and recommendations on retirement savings throughout the European Union.
The EC's Financial Stability, Financial Services and Capital Markets Union directorate general is looking for a research firm or a consultant to develop the study of automatic enrollment practices in defined contribution plans around the world, according to a notice on European procurement website, Tenders Electronic Daily.
In an effort to support policies on adequate retirement outcomes of the EU's citizens, the selected supplier will screen market practices and features of existing auto-enrollment programs. The firm will provide an analysis of at least two countries with successful and unsuccessful implementations of auto enrollment, the EC said.
The EC aims to measure the performance of auto-enrollment programs in delivering adequate retirement savings as state pension benefits continue to fall.
The study will assess how automatic enrollment could improve retirement outcomes by boosting coverage, boosting savings in retirement plans as well as the performance of underlying investments. The study will also show how automatic enrollment can thrive in countries with underdeveloped capital markets.
Proposals are due by 4 p.m. Central European Summer Time on Oct. 23. Further information was not available.
