Press Release: Pension time-bomb: Commission proposes to formalise EU co-operation on pensions. Common goal is adequate levels of pension through an integrated strategy for sustainability of pension systems

On 3 July 2001 the European Commission proposed a joint, EU-wide effort to ensure that pensions for old age, invalidity or survivors provide an adequate income and that pension systems as a whole remain financially sustainable despite forecasts of an EU-wide rise in the number of older people.