The European Insurance and Occupational Pensions Authority (EIOPA) issued today a call for experts to join a Practitioners Network on Pension Tracking Systems (Network) to strengthen and complement EIOPA’s expertise with regard to the internet-based applications that provide citizens with an overview of their future retirement income, based on their entitlements from all pension schemes in which they participate.
The expertise gathered from the Network should benefit current work of EIOPA to identify best practices for the set-up of a National Pension Tracking System tool following the call for advice from the European Commission.
The Network will share technical expertise and collect evidence, in particular with regard to the following:
- the mapping of functional features for the individual to have a simple, attractive and comprehensive view of his/her income at retirement;
- the outline for the presentation of the information in the tracking tool, including the summary of key information;
- an appropriate implementation approach for launching the tracking tool and the accompanying communication initiatives;
- the identification of the relevant data points from pension products across the different sources, for example state-run pensions, occupational pensions, personal pensions and the relevant sources/entities;
- the design, set-up costs and governance of the framework, including parties responsible for holding of data, the interface for accessing the system, etc.
- ensuring the consistency in the estimates and projections of an individual’s financial position at retirement;
- the interconnectivity with the European Tracking Service;
The members of the Network are expected to be highly knowledgeable professionals with extensive practical experience with the design, use and/or management of pensions tracking system tools developed both within and outside the European Economic Area. In particular, EIOPA seeks representatives from public entities, pension funds associations, companies, non-profit organisations and the European Tracking Service.
Members will be selected for a one-year term, with the possibility of the extension for one more year. The requirements, selection process and conditions are specified in more detail in the call for experts.
The deadline for applications is Sunday, 31 January 2021 23:59 CET.
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