Follow Us

Follow us on Twitter  Follow us on LinkedIn
 

22 February 2013

EIOPA(欧州保険年金機構)がDC(確定拠出型年金)の情報開示に関する優良事例についての報告書を公表


Default: Change to:


EIOPA wishes to support European and national policymakers when they draft information requirements for occupational DC schemes where members bear the investment risk, and in particular the format of annual statements and pre-enrolment information.


Substantial improvements can still be made to information provision that is meant to support members in their retirement planning. It is important to note however, that information provision is not a panacea by itself: rather, it should be used in combination with other instruments, including default options and financial education. Also the importance of mandatory pension saving should not be underestimated. EIOPA argues that where not yet applied a new approach to information disclosure is necessary, given the changes in the pension systems throughout the EU.

There is a need to inform people to support them to make the appropriate financial decisions in their retirement planning (chapter 1). Just providing ‘sufficient’ legally and technically relevant information has proven not to be effective, and can even be counter-productive. EIOPA explains that people are no homo economicus, they have limited time and motivation to be involved in retirement planning, and they often use heuristics, which are rules of thumb, to process information quickly.

EIOPA has developed a checklist that is based on the insights from behavioural economics and communication science about how people process information and make financial decisions, but has also collected good practices in the information provision to DC schemes from various Member States. The first and crucial issue on the checklist is that policymakers should only start drafting information requirements if they have thought through the behavioural purposes: what should people be able to ‘do’ with the information? If information directly serves certain actions and financial decisions in the financial planning it is more effective.

Gabriel Bernardino, Chairman of EIOPA, said: “Evidence shows that we need a new approach to information disclosure. This Report highlights how information can be structured and presented to help scheme members to make appropriate financial decisions. I do hope that this Report will encourage those responsible for pension scheme communications to provide clear, member-friendly and comprehensible information that guides and supports European citizens in effective retirement planning.”

Press release

Full report

Q&A with Gabriel Bernardino on the Report



© EIOPA


< Next Previous >
Key
 Hover over the blue highlighted text to view the acronym meaning
Hover over these icons for more information



Add new comment