Pensions Tracking Services - Rising Awareness and Managing Retirement Expectations

Demographic changes outlined in Green Paper on Ageing put increasing pressure on the adequacy and sustainability of pensions. And this is expected to continue in the next decades. In this work we carry out qualitative research on the role of national PTS. Considering demographic changes in all countries in Europe, the changing world of work, the digitalization and the climate changes we need to go to ultimate solution, where on the base of complete and accurate information the citizens are able to take a de cision whether and when to stop working. All “megatrends” mentioned above provide key messages that in the future the labor market will be the center and therefore life long learning activities will become more and more important. We analyze the lessons learned from the review of the existing national tracking services in several countries and also the main challenges facing the PTS in development stage. We assess the difficulties caused by the different landscape in pensions between different countries. Therefore, the solution should be user friendly, easy to implement and easy to be understand. We count the risk of poverty and the importance of upskilling of every age segment of the population to ensure increasing productivity of work. Here we also consider the important role of actuarial work and the need of proper communication. Our understanding is that the big challenges should be solved st ep by step, implementing simple but smart solutions . The PTS is such a small step in the very long journey for ensuring wellbeing of the society.