VIRTUAL EVENT SERIES #CountingEveryoneIn DAY 1
“Financial security at an older age: What do we need to prepare for” is part of an event series organized by the European Banking Federation (EBF) during the European Money Week (March 22 – March 27) which celebrates financial education and raises awareness about money and personal finances. This year’s theme, ‘counting everyone in’, highlights the importance of including all social groups in financial education efforts, with a special focus on the elderly, women and youth.
Longer life expectancy together with evolving pension and social welfare systems means Europeans today must consider different things when planning their retirement than the previous generations. New study on retirement and debt in the US by professors Olivia S. Mitchell and Annamaria Lusardi reveals worrying new patterns for those near or in retirement. In particular, debt appears to follow individuals way past their working years.
This session will offer an overview of the US study findings, take stock of the retirement landscape in Europe and explore the need for research on later life debt in the region.
WATCH THE FULL WEBINAR
PROGRAMME
16:00
Opening remarks
- Wim Mijs, CEO, European Banking Federation
16:05
Fireside chat: Remaking Retirement: Debt in an Aging Economy
- Wim Mijs, CEO, EBF
- Dr. Olivia S. Mitchell, International Foundation of Employee Benefit Plans Professor; and Professor of Insurance/Risk Mgmt. and Business Economics/Policy, The Wharton School, Univ. of Pennsylvania
16:30
Panel on the European aspect
- Olaf Simonse, Head of the Wijzer in Geldzaken platform in the Netherlands, Dutch Money Wise platform
- Bernard Delbecque, Senior Director, Economics and Research, EFAMA
Moderated by Wim Mijs, CEO, EBF
16:55
Closing remarks
SPEAKERS
Wim Mijs, CEO, European Banking Federation
Wim Mijs (1964) was appointed Chief Executive Officer of the European Banking Federation in 2014. Between 2007 and 2014 Wim served as CEO of the Dutch banking association NVB. During this tenure he transformed the NVB into a modern industry association, positioning it as the key representative of the banking sector in the wake of the financial crisis.
Wim studied law at the University of Leiden in the Netherlands, specialising in European and International law. After his studies he worked at the International Court of Arbitration at the Peace Palace in The Hague. In 1993 he joined ABN AMRO in Amsterdam before moving to Brussels to head up the bank’s EU liaison office. Wim moved back to The Hague in 2002 where he became the Head of Government Affairs for ABN AMRO.
Wim is a member of the Advisory Board of the BBVA Center for Financial Education and Capability, the Industry Chair of the European Parliamentary Financial Services Forum and member of the Advisory board of Leiden Law School. Between 2011 and 2018, Wim held various institutional roles within the international and European financial/banking community: chairman of the International Banking Federation; chairman of the Executive Committee of the EBF; and chairman of the Board of Euribor, now known as the European Money Market Institute.
Dr. Olivia S. Mitchell, International Foundation of Employee Benefit Plans Professor; and Professor of Insurance/Risk Mgmt. and Business Economics/Policy, The Wharton School, Univ. of Pennsylvania
Dr. Olivia S. Mitchell is the International Foundation of Employee Benefit Plans Professor, and Professor of Business Economics/Policy and Insurance/Risk Management, at the Wharton School of the University of Pennsylvania. At Wharton, she is also the Executive Director of the Pension Research Council and the Boettner Center on Pensions and Retirement Research, a Fellow of the Wharton Financial Institutions Center, and a Fellow of the Leonard Davis Institute; she also serves on the Board of the Penn Aging Research Center. Concurrently Dr Mitchell is a Research Associate at the National Bureau of Economic Research and a Co-Investigator for the Health and Retirement Study at the University of Michigan.
Dr Mitchell’s main areas of research and teaching are international private and public insurance, risk management, public finance, and compensation and pensions. Her extensive publications (300+ books and articles) analyze pensions and healthcare systems, wealth, health, work, wellbeing, household financial decisionmaking, and retirement. She served on President Bush’s Commission to Strengthen Social Security, the US Department of Labor’s ERISA Advisory Council, and as Vice President of the American Economic Association. She has addressed many groups including the World Economic Forum; the International Monetary Fund; the Investment Company Institute; the White House Conference on Social Security; and the President’s Economic Forum. She is listed in the top 10 women economists of the world in 2021. She received the FINRA Investor Education Foundation Ketchum Prize; the Fidelity Pyramid Prize for research improving lifelong financial well-being; the Carolyn Shaw Bell Award of the Committee on the Status of Women in the Economics Profession; and the Roger F. Murray First Prize (twice) from the Institute for Quantitative Research in Finance. She was also honored with the Premio Internazionale Dell’Istituto Nazionale Delle Assicurazioni from the Accademia Nazionale dei Lincei in Rome. Her study of Social Security reform won the Paul Samuelson Award for “Outstanding Writing on Lifelong Financial Security” from TIAA-CREF.
For additional information, please see: https://bepp.wharton.upenn.edu/profile/719/
Olaf Simonse, Head, Money Wise Platform and Vice Chair, OECD/INFE
Olaf Simonse heads the Money Wise Platform from the Ministry of Finance. In this role, he is responsible for executing the National Strategy for Financial Education in the Netherlands, which was relaunched in 2014. The mission of the Money Wise Platform is to join forces to promote responsible financial behavior. The platform initiated a range of projects to increase financial capability in the Netherlands, for example the National Money Week, the Pension3days, and more recently, a platform that helps employers increase the financial health of their employees. Her Majesty Queen Máxima of the Netherlands is the Honorary Chair of the platform.
Mr. Simonse is the Vice Chair of the OECD International Network on Financial Education (INFE). Mr. Simonse regularly shares his expertise in the area of financial education as a speaker on national and international conferences.
Bernard Delbecque, Director of Economics and Research, EFAMA
Bernard is responsible for monitoring industry and market trends and for leading EFAMA’s activities in investor education. He is also in charge of developing EFAMA’s positions on pension issues. In this capacity, he contributed to all initiatives taken by EFAMA to promote the creation of the pan-European Personal Pension Product (PEPP).
Bernard served as Vice-Chair of EIOPA’s Occupational Pensions Stakeholder Group (OPSG) between April 2016 and October 2018, and as Chair of the OPSG between October 2018 and July 2020. Bernard was appointed for a new term in the OPSG, starting in July 2020, and he was reelected OPSG Chair for a term of two years. Bernard also served as a member of ESMA’s Group of Economic Advisers in 2014-2016.
Prior to joining EFAMA, Bernard was a policy advisor to the Belgian Minister of Finance and previously he worked as an economist at the International Monetary Fund in Washington. Bernard holds a Ph.D. in economics from the University of Pennsylvania in Philadelphia and has held various teaching positions at the Catholic University of Louvain and the University of Namur in Belgium.
JOIN OTHER #CountingEveryoneIn EVENTS:
JOIN DAY TWO, 24 March
As part of the focus on ‘counting everyone in’ in the 2021 edition of European Money Week, the second day will look at the benefits and challenges of, and best practices in, building financial literacy for girls and women.
JOIN DAY THREE, 25 March
As part of the focus on ‘counting everyone in’ in the 2021 edition of European Money Week, the third day will explore key challenges and opportunities for improving financial literacy among young individuals. Experts from Europe, the US and South America will share best practices and recommendations on equipping youngsters with a future-proof financial literacy skillset.
About the organiser: European Banking Federation
The European Banking Federation is the voice of the European banking sector, bringing together national banking associations from across Europe, including all member states of the European Union. The EBF is committed to a thriving European economy that is underpinned by a stable, secure and inclusive financial ecosystem, and to a flourishing society where financing is available to fund the dreams of citizens, businesses and innovators everywhere.
EU Banks for Ukraine
