Financing Occupational Pensions in the E.E.C.

Abstract

1.1. One of the declared intentions of the European Economic Community is the harmonization of Social Security arrangements, including State pensions. To the extent that occupational pensions are regarded as an adjunct to Social Security to bring total benefits up to an acceptable level, it is to be expected that the achievement of this aim would have its own effect on occupational pensions and on the way in which these pensions are financed.1.2. In practice progress along this path has been slow and both Social Security and occupational pension systems differ widely from country to country within the E.E.C. On the one hand there are the U.K. and Ireland providing very small State pensions by comparison with most of our neighbours, and at the other extreme Italy, where State pensions are at such a high level for the whole working population that private pensions are virtually non-existent.