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Savings Union Crucial for Productive Investments, Says Finance Ministry

Published February 17, 2026, 17:13
Savings Union Crucial for Productive Investments, Says Finance Ministry

The acting President of the Council of Ministers of Finance (ECOFIN), Makis Keravnos, and Commissioner for Economy, Valdis Dombrovskis, stressed the importance of boosting investments by mobilizing private savings, within the framework of the Savings and Investments Union (SIU). The discussion on supplementary pensions is part of this framework. Mr. Keravnos highlighted the social and developmental nature of the supplementary pension package, noting that the goal is to ensure adequate income in retirement through improved supplementary systems. These systems will complement, not replace, public pensions. The role of pension funds in the real economy was underlined, with the aim of increasing the use of supplementary pensions throughout Europe and improving their long-term performance. The package is part of the broader strategy for the SIU, aiming to channel more private savings into investments that support the European economy. The Cypriot Presidency emphasizes competitiveness and considers the SIU crucial for unleashing forces and channeling funds into productive investments. Commissioner Dombrovskis confirmed that supplementary pensions are a key pillar of the SIU strategy, aiming to strengthen the supply and demand of supplementary pension products.

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