PENSION TRACKING SYSTEM APPLICATION: A NEW SUPERVISION CHALLENGE IN THE EU

Stanislav Dimitrov; Elroi Hadad

doi:10.52950/ES.2022.11.2.004

Authors

Stanislav Dimitrov VUZF, Bulgaria Author
Elroi Hadad Shamoon College of Engineering, Israel Author

DOI:

https://doi.org/10.52950/ES.2022.11.2.004

Keywords:

National pension tracking system, European tracking service on pensions, Pension dashboard

Abstract

Different areas serve as sources of pension protection for the citizens of the European Union. Along with pensions from public systems, capital pensions are playing an increasing role. Financial institutions—providers of pension savings products—operate on different business models; this diversity causes difficulties in tracking individuals’ pension savings and in promoting pension protection. The pension tracking system is seen as a mechanism for achieving a more efficient market for pension products. This paper examines the development of the pension tracking system (PTS) for European Union member states with multi-pillar pension systems. We study the application of the PTS in Bulgaria to exemplify its structure for other EU member states. We conclude that the development of the PTS is a necessary set of measures that would serve as a prerequisite for improving the well-being of savers.

Data:
Received: 26 Aug 2022
Revised: 7 Oct 2022
Accepted: 10 Nov 2022
Published: 24 Nov 2022