Eurobank highlights role of provident funds in future of pensions

Eurobank highlighted the importance of occupational pension funds in strengthening Cyprus’ retirement system during the 17th Pension Forum, which examined the challenges facing pension provision and the need for sustainable long-term solutions. The forum, held in November 2026 under the title ‘Better Pension Decisions: Innovation, Protection, Progress’, brought together participants to discuss the impact of demographic ageing, the adequacy and sustainability of pensions and the need to modernise the country’s pension system. The event took place as pension reforms are being advanced that are expected to have a substantial impact on the sector, with particular emphasis on strengthening occupational pension funds and improving retirement provision. Eurobank supported the conference as a sponsor for another year, underlining its commitment to discussions surrounding citizens’ long-term financial security and the development of a modern and resilient pension system. During the conference, Menelaos Poullis, Manager of Wealth Management – Institutional Clients at Eurobank, took part in a panel discussion examining the role of the second pension pillar in the European Union’s Savings and Investments Union strategy and what Cyprus needs to do to advance this objective. The discussion focused on how the second pension pillar could be better utilised by encouraging greater savings and creating the conditions for long-term investment, benefiting both employees and the wider economy. Poullis highlighted the importance of economies of scale achieved by multi-employer provident funds, explaining the advantages these structures can offer in managing retirement savings. These include lower administrative costs, access to a wider range of investment options and more efficient services for fund members, allowing occupational pension schemes to operate more effectively. The panel also examined how members’ accumulated savings could be converted into adequate retirement income, including through consideration of proposed alternative institutional changes to the existing framework. Eurobank said its expertise in Wealth Management, alongside its support for institutional clients and occupational pension funds, enabled it to contribute to the development of practices aimed at strengthening transparency and the long-term sustainability of pension planning. The bank added that it remained committed to supporting initiatives that improve the management of retirement savings and contribute to a more sustainable pension environment in Cyprus.