Europe
Two new studies commissioned by DG Employment show the extent to which many workers lose out in terms of pensions as a result of changing jobs. The first study looks at supplementary pension scheme rules in major organisations from nine EU countries. It found that many pension schemes do not impose any vesting period - the amount of time required for workers to accumulate pension rights - although there are still 32% of Defined Benefit (DB) schemes requiring workers to contribute to a pension scheme for more than two years before they acquire a right to a pension in retirement. The study also shows that a quarter of DB schemes offer no revaluation of workers' dormant pension benefits when they move jobs. In effect these rights are frozen until retirement. The second study examines trends in length of service. It shows that on average nearly 40 per cent of current workers change jobs within five years and are therefore potentially disadvantaged by the operation of long vesting periods found in supplementary pension schemes. The Slovenian Presidency will try to make progress on the draft directive on minimum rights in supplementary pension schemes which began like as the draft directive on portability of pension rights.
Read more at > DG Employment (EN,FR,DE)