Personal pensions in the EU

Gradually, taxpayers have become increasingly responsible for their own pensions. One of the reasons for this development is related to the problems Member States have had in financing their retirement systems. This has made second and third-pillar provisions increasingly important. Therefore it is interesting to look at the position of the third pillar within the system of retirement provisions and see if there is a model with respect to personal pensions that can be applied by Member States of the EU that complies with European and international tax law and contributes to the EU-strategy to make pension systems adequate, safe and sustainable in the long term.