European consumers will soon benefit from more choice when saving for retirement, thanks to Commission plans to create a new class of pension products.

Commission launches a new pan-European personal pensions label to help consumers save for retirement // Brussels, 29 June 2017

"Pension funds have a special responsibility in helping people save and plan for their retirement," said Jonathan Hill, European Commissioner for Financial Stability, Financial Services and Capital Markets Union".

48. Welcomes the establishment of pension tracking services for the 1st and 2nd pillars in Member States; welcomes also the discussion of – and the Commission’s intention of starting a pilot project on – the establishment of cross-border pension tracking services for the 2nd pillar to make it easier for workers to move between Member States without losing track of their pension rights; emphasises that citizens need high quality information from all pension schemes (pillars 1, 2 and 3) so that they can plan their retirement savings a ...[+++]nd consider taking up supplementary pensions; encourages the Commission to facilitate the exchange of current best practices in Member States and to promote the development of cross-border pension tracking services;

19. Stresses that the first pillar should continue to be the main supplier of retirement pensions and that the Commission should take measures to make the second and third pillars more accessible and more transparent for women as they currently have fewer opportunities to build up supplementary retirement savings than men;

Once again, the European Union is surrendering to the dictatorship of the single market, this time in regard to retirement pensions, with the consequences we know so well: even worse inequality between workers, the stranglehold of the financial markets and shareholders on retirement savings schemes, and heavier pension fund pressure on employees.