Survey finds €1,900bn hole in EU pensions

Workers across the European Union need to save €1,900bn ($2,490bn) more each year if they hope to retire with pensions that will maintain their standard of living, according to new insurance industry research from Aviva Europe, September 2010.

The research, which is the first attempt to calculate the savings shortfall across the 27 EU nations in a comparable fashion, is being released as the European Commission nears the end of a long consultation process on its pensions green paper issued in July.

Aviva: Press Release, 22.9.10: New Aviva research reveals €1.9 trillion European pensions gap http://www.aviva.com/media/news/8041/

ESO: Background information: Brussels to press for higher retirement ages http://www.europeansources.info/record/brussels-to-press-for-higher-retirement-ages/

EUObserver, 23.9.10: French strike highlights EU's pension debacle http://euobserver.com/9/30872

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