Retirement Savings Vehicle for European Research Institutions (RESAVER)

Researchers face  difficulties in preserving their supplementary pension benefits when moving between different countries. To overcome this problem, the European Commission is supporting a consortium of employers, through Horizon 2020, in creating a single European pension arrangement (RESAVER) that will offer a defined contribution plan, tailor-made for research organisations and their employees.

RESAVER will be a state of the art retirement savings product that will enable mobile and non-mobile employees to remain affiliated to the same pension vehicle when moving between different countries and changing jobs. At the same time RESAVER will lower asset management charges and provide better access to high quality investments.
In 2014 the employer consortium will prepare the ground for the effective establishment of RESAVER with the aim of transferring the first contributions as of 2015. The initiative should remove pensions as a barrier to researchers’ mobility and contributes to the realisation of the European Research Area. 

Who can participate?

RESAVER is open to all public and private organisations within the European Economic Area that employ researchers. This may include Universities, research institutions, SMEs and funders; collectively referred to as research institutions. Enrolment is not restricted to researchers but open to all employees (subject to local legislation) of research institutions.

Next steps

  • In June 2014 the EuropeanCommission will organise a call for tender to find a contractor able to provide technical assistance and expertise in the creation of the cross-border 2nd pillar IORP and the complementary country-specific insurance arrangement. The four year framework contract is expected to be awarded during the autumn of 2014.
  • In September 2014 an ad hoc employer consortium will be registered as an international non-profit organisation in Belgium. The employer consortium will promote the concept and prepare the ground for the establishment of RESAVER in 2015. 
  • The European Commission will organise a series of seminars to inform employers on the possibilities and benefits offered by RESAVER. Interested employers are welcome to participate in one of the three events that will beheld across Europe in 2014. The events will be held in The Hague on 27 June 2014 and Vienna on 29 October 2014. The location and date of the third and final event  is expected to take place during the fourth quarter of 2014. 

Contact

For more information regarding the mutual learning seminars and other events please contact the RESAVER secretariat: RTD-PENSION-FUND@ec.europa.eu 

Download the brochure for more information.