What changed between the draft committee report and the plenary report

Removed:4. Reiterates the need for tailored and community-focused initiatives, and rejects the ‘one-size-fits-all’ logic; underlines the situation of women, youth and citizens from rural areas, and the need to count on social partners, retail investor organisations and civil society movements in the common effort to identify specific needs and concrete projects that are as close to citizens and communities as possible, in particular citizens who are less financially literate and, therefore, most exposed to financial shocks;

Added:4. Encourages the Member States to update the Council Recommendation on key competences for lifelong learning3 in order to designate financial literacy as an independent key competence;

Removed:5. Underlines that financial literacy requires financial access and calls, therefore, on the national and European competent authorities, namely on supervision, to enforce existing legislation to ensure that the financial instruments that are available in the market are easily accessible and provide all the necessary information with regard to their conditions in a transparent and understandable manner;

Added:5. Considers that measures taken at Member State level, when well coordinated with the Commission, have proven most effective in promoting retail participation in capital markets, including through pension systems; considers that empowering retail investors to decide how and where to allocate their savings by improving financial literacy can foster greater market participation;

Removed:6. Proposes the creation of a pan-European network of stakeholders and competent authorities both at the national and European level to build on concrete transversal and comprehensive solutions to enhance financial literacy levels and bring about long-term behavioural changes in areas such as budgeting, saving and selecting appropriate products;

Added:6. Stresses that while financial education is the primary tool for directly addressing financial literacy, education must be complemented by the necessary regulatory protections and proactive measures from the financial services sector, including consumer protection and fraud prevention;

Removed:Financial literacy as a cornerstone of the savings and investments union (SIU)

Added:7. Highlights the increasing digitalisation of the financial sector and the need for digital skills as an essential part of, or complement to, financial education; notes, in this context, the need for financial education tools to be consistently updated to take account of digital advancements;

Removed:7. Welcomes the Commission’s communication of 30 September 2025 on a Financial Literacy Strategy for the EU and takes note of its four pillars, underlining that such an important initiative must be followed up with concrete measures as soon as possible;

Added:8. Encourages the Member States to integrate age-appropriate financial literacy projects into school curricula, at all stages of formal education, as a complement to digital and media education and in parallel with formal programmes, while promoting teacher support initiatives; encourages, therefore, the creation of EU-supported teacher-training networks to promote consistent and high-quality methods of teaching financial literacy across the EU, building on best practice from the Member States; highlights that the Member States that include financial education in their national curricula are among the strongest performers in EU financial literacy surveys;

Removed:8. Invites the Commission and the European Supervisory Authorities (ESAs) to create, maintain, expand and regularly update a searchable and accessible EU repository of financial education initiatives, as described in the Commission’s communication, including best practices on workplace programmes, youth engagement projects and community-based approaches to support scaling-up on Member States’ good examples;

Added:9. Encourages the Member States to implement educational initiatives appropriate to all stages of life, to foster lifelong learning; understands that these initiatives should be aligned with important milestones in life, such as completing specific levels of formal education, getting on the property ladder or nearing retirement, in order to maximise the impact of such initiatives;

Removed:9. Calls on the Commission to report, by the end of 2027, on the uptake and effectiveness of the Financial Literacy Strategy, including the outcome of the ambassadors’ network, the proposed code of conduct and the EU-wide communication campaign, proposing further action if deemed necessary;

Added:10. Underlines the importance of safeguarding the principles of independence and transparency when promoting measures or initiatives in the field of financial education;

Removed:10. Notes the Commission’s commitment to a regulatory simplification agenda and the concrete efforts to reduce the administrative burden, which is leading to several targeted legislative initiatives; asks the Commission to consider the principles that informed its communication on a Financial Literacy Strategy in the context of possible initiatives on banking, financial markets or insurance regulatory frameworks;

Added:11. Proposes the creation of a European Framework of Advanced Financial Skills for adults, as an extension to the existing joint framework, with modules on personal financial planning, comparing products, risk and diversification, and sustainable investment, using national learning platforms;

Removed:11. Stresses the need for systematic policy coherence across financial literacy, retail investor protection rules, the blueprint for Savings and Investment Accounts (SIAs), other SIU initiatives, and banking and financial market regulations;

Added:12. Exhorts the Member States to incentivise, through adequate policy measures, workplace-based financial education, lifelong learning and financial well-being programmes to improve informed decision-making, in particular with regard to pensions, medium- and long-term saving and investing, supplementary retirement provision and personal budgeting; highlights, in this regard, the role of civil society, especially retail investor organisations, and relevant social partners in supporting and implementing these measures, as well as the need for effective communication to citizens about their pensions and expected income;

Removed:12. Proposes the launch of a comprehensive report, commissioned by the Commission, to identify the need and added value of possible targeted legislative initiatives to adapt essential legislation to the political objectives of enhancing financial, digital, data and media literacy.

Added:13. Urges the Member States to participate in the OECD’s Programme for International Student Assessment (PISA) financial literacy tests for youth and to establish regular surveys for adults; reiterates that financial literacy is an outcomes-based concept, and that national strategies should have clear and measurable indicators of progress, drawing upon the OECD/INFE Toolkit for Measuring Financial Literacy and Financial Inclusion4; notes, moreover, that the setting of targets and deliverables should encourage national ownership of strategies; advises the Commission and the Member States to incorporate a level of flexibility into financial literacy strategies so that they may be adapted in the light of the findings of any efficacy assessment;

Removed:The responsibility of finfluencers for enhancing financial literacy in Europe

Added:14. Reiterates the need for tailored and community-focused initiatives, and rejects the ‘one-size-fits-all’ approach; notes that these initiatives should build on national measures and reflect the varying levels of financial literacy in different contexts, thereby helping to increase financial knowledge more widely and consistently; underlines the situation of women, young people, older people, persons with disabilities and impairments, and people from rural areas, and highlights the need to mobilise social partners, trade unions, retail investor organisations, chambers of commerce, the fintech sector, SME networks and civil society movements, as well as the financial services sector, in the common effort to respond to such specific needs and develop concrete projects that are as close to citizens and communities as possible, in particular citizens who are less financially literate and, therefore, more exposed to financial shocks and more vulnerable to financial fraud; calls for dedicated and targeted programmes for the most vulnerable groups, including those outside formal education;

Removed:13. Highlights the role of finfluencers as emerging intermediaries of relevant financial information who reach young and previously underserved audiences; notes their significantly increased responsibility and accountability towards their audience;

Added:15. Notes that young people are being exposed to, advertised and offered financial services at ever earlier ages through multiple channels, namely social media, which demonstrates the need to foster financial literacy from an early stage;

Removed:14. Encourages the Commission to explicitly cover finfluencers and platforms hosting financial content in the European Code of Conduct for private and not-for-profit organisations, namely through a voluntary seal for compliant creators.

Added:16. Highlights the need for targeted education regarding online financial scams, including pyramid schemes, pump-and-dump schemes and fraudulent investment communities; underlines that, in the light of widespread financial vulnerability, the need to raise awareness of the risks associated with indebtedness;

Removed:15. Calls on platforms to continue promoting prominent and legitimate educational channels on financial literacy and reiterates the importance of implementing innovative features in the field of labelling commercial communications, risk-warning solutions and fast-track notice-and-action procedures against illegal or clearly harmful content;

Added:17. Calls for measures to strengthen the financial literacy and entrepreneurial skills of people starting new business ventures, with particular attention to entrepreneurs from disadvantaged backgrounds, including those outside the traditional education system;

Removed:16. Underlines the social responsibility of finfluencers and their valuable contribution to increasing levels of financial literacy; calls, therefore, on these digital actors to contribute to establishing the European Financial Strategy, and to participate in events and initiatives promoted by the Commission and/or the Member States, while complying with the highest standards of independence and transparency;

Added:18. Encourages the Member States to allow and promote micro-credential systems for adult-learning facilitators (community leaders, social workers, union representatives);

Removed:17. Declares its availability to help evaluate the added value of EU guidance on finfluencer communications, given the potentially negative impact of advertising risky products and unverified or misleading advice promoted by some actors, without proper accountability;

Added:19. Calls on the Commission to expand Erasmus+ adult-learning actions, and the relevant strands of the Digital Europe Programme, to help Member States design age-sensitive digital literacy and financial literacy courses, ensuring that older citizens and other vulnerable adults can safely use online banking, mobile payments and digital communication channels;

Removed:18. Proposes that the Commission organise a pan-European summit of finfluencers to discuss measures to enhance financial literacy in Europe and discuss how these digital actors should be regulated;

Added:20. Underlines that women remain disproportionately affected by low levels of financial literacy, with 60 % of the Europeans scoring low on financial literacy being women; stresses, therefore, the need to close both the financial literacy gap and the gender pay gap, in order to empower women economically and ensure their full participation in society; calls for the EU and its Member States to guarantee that women have access to the tools, resources and opportunities required to thrive, particularly in sectors where they remain under-represented;

Added:21. Notes that the financial education of students and young adults can also improve the financial knowledge of those who are part of their immediate circle, suggesting a potential multiplier effect associated with financial education focusing on younger people;

Added:22. Underlines that financial literacy requires financial access and calls, therefore, on the national and European competent authorities, particularly on supervisory authorities, to enforce existing legislation to ensure that the financial instruments that are available in the market are easily accessible, risk-appropriate and tax-attractive, and that all the necessary information with regard to their conditions is provided in a transparent and understandable manner;

Added:23. Understands that the current legal framework on financial services, despite aiming to improve transparency, protection and disclosure, is often too complex to support genuinely informed decisions for the average person; recognises the importance of guaranteeing EU citizens’ understanding of financial products and emphasises that financial education initiatives cannot replace the need for a strong investor protection framework;

Added:24. Underlines the importance and added value of public support, namely through appropriate tax policies, for financial literacy initiatives promoted by financial services providers and industry stakeholders;

Added:25. Recognises EU enterprises as key players in a comprehensive approach to enhancing financial literacy in the EU and as relevant contributors to citizens’ financial health;

Added:26. Stresses that, in the context of EU or national initiatives on promoting financial literacy, priority should be given to those aimed at regions characterised by poor economic growth, low levels of savings and substantial debts incurred as a result of consumer credit, where households are at a greater risk of over-indebtedness;

Added:27. Stresses that the strengthening of financial literacy is not possible without increased financial access for citizens; calls for the creation of more accessible financial instruments for all citizens, particularly those seeking an opportunity to make their first investments; demands that existing legislation be enforced to ensure that financial instruments are easily accessible, and that citizens are provided with the necessary information in a transparent and understandable manner; welcomes, in this regard, the Commission proposal for Savings and Investment Accounts as a supporting measure to create better financial opportunities for citizens who wish to invest, and calls for such instruments to be available in all Member States as part of a framework aimed at the creation of an investment culture in the EU;

Added:28. Proposes the creation of a voluntary pan-European network of stakeholders and competent authorities both at national and European level to build on concrete transversal and comprehensive solutions to enhance financial literacy levels and bring about long-term behavioural changes in areas such as budgeting, saving and selecting appropriate products, including research on current knowledge gaps; emphasises that this network should be technical in nature, should be free of political and commercial interference, and should have a transparent governance structure; stresses, to this end, the need to avoid the creation of permanent bureaucratic structures and to keep the use of costly external consulting services to a minimum, with a view to providing the resources available to services and projects aimed directly at EU citizens;

Added:29. Welcomes the Commission’s commitment to organise regular workshops, with the objective of promoting a similar pan-European network and community of financial literacy practitioners from the private sector and not-for-profit organisations; stresses that best practice, codes of conduct and guiding principles on financial literacy should not be developed in silos; urges the Commission, therefore, to consider involving governmental agencies and national competent authorities in this community on an ad-hoc or permanent basis;

Added:30. Emphasises that investment in financial literacy yields high returns in the context of economic growth and the strengthening of individual, business and public finances; welcomes, therefore, the pilot project on financial literacy that was recently approved as part of the EU’s 2026 budget;

Added:31. Highlights that all strategies, at both Member State and EU level, should be developed and implemented in coordination with public authorities, citizens’ organisations, universities, trade unions and private stakeholders; stresses that measures developed by national governments and the Commission should take into account the role of market participants;

Added:32. Calls on the Member States to incorporate financial literacy indicators into their financial inclusion strategies, and to promote saving and private investment via innovative legal and administrative instruments;

Added:33. Calls on the Council to issue a recommendation establishing common principles and minimum standards for financial education, based on an approach that involves cooperation between the public sector and private actors; proposes that the EU point of reference for compiling good practice, research and tools should automatically incorporate contributions from universities, civil society organisations, think tanks and financial entities that are already promoting initiatives with good results;

Added:Financial literacy as a cornerstone of the savings and investments union

Added:34. Welcomes the Commission’s communication of 30 September 2025 on a Financial Literacy Strategy for the EU and takes note of its four pillars, underlining that such an important initiative must be followed up, where appropriate, with concrete measures as soon as possible;

Added:35. Welcomes the Commission’s intention to run an extensive communication and social media campaign on financial literacy, as set out in the EU Financial Literacy Strategy; believes that such a campaign should be permanent, multilingual and EU-wide, developed in cooperation with national authorities, public service broadcasters, cultural networks and independent fact-checking organisations, and aimed at debunking financial disinformation, promoting safe online behaviour and alerting citizens – especially young and older people – to prevalent financial scams; believes that national competent authorities should conduct targeted outreach through social and traditional media to strengthen awareness and improve financial literacy;

Added:36. Recalls that the European Council has asked for urgent measures, starting in schools, to promote financial knowledge in society; underlines that the new EU Financial Literacy Strategy and the measures set out therein are intended to significantly improve levels of financial education across Europe and should be leveraged as a tool for promoting economic growth and competitiveness, as well as financial equality and equal opportunities;

Added:37. Notes that the Commission’s Financial Literacy Strategy, as part of the savings and investments union, focuses on competitiveness and the release of savings and investments, but stresses that it should also include the promotion of equal opportunities and financial empowerment for all citizens; calls for concrete measures enabling citizens, particularly those in the most vulnerable groups, to build, manage and grow their wealth; urges for financial literacy to be approached comprehensively and leveraged as a tool for promoting economic growth and competitiveness, as well as financial equality and equal opportunities;

Added:38. Stresses the importance of basing national and EU financial literacy strategies on relevant evidence and analysis, tailored to the specific characteristics of each jurisdiction; recalls the need for the systematic monitoring and evaluation of financial literacy, in order to provide comparable data to assess progress over time, and stresses that it is vital to learn from best practice in individual Member States;

Added:39. Calls on the Commission to include entrepreneurship in the scope of the Financial Literacy Strategy and in a toolkit for Member States to enhance coordination in this respect;

Added:40. Supports the goal of delivering an EU action plan on online financial fraud, and recalls the need to address high levels of financial fraud with sound prevention and mitigation measures at the regulatory, supervisory and administrative levels;

Added:41. Stresses the need to focus efforts on pension literacy to contribute to retirement security for citizens in the EU and to guarantee that EU citizens are aware of the importance of public statutory pensions, occupational pensions and supplementary personal pensions; recalls the importance of insurance and pension products as saving channels beneficial to both citizens’ financial health and security and competitive capital markets, boosting the development of the savings and investments union;

Added:42. Invites the Commission and the European Supervisory Authorities to maintain, expand and regularly update a searchable and accessible EU repository of EU and national financial education initiatives, as described in the Commission’s communication, including best practice on workplace programmes, youth engagement projects and community-based approaches to support scaling-up on Member States’ good examples; emphasises that this repository should be based on existing platforms and infrastructure and should leverage existing national and private resources as much as possible to prevent the duplication of work, which would place a greater strain on the EU budget; stresses that the focus should be on the quality and comparability of the information available; insists that this repository must have a dedicated section on resources for cybersecurity and scam prevention, created in cooperation with national cybersecurity agencies; underlines that the repository should also include innovative and proven initiatives from non-EU countries that could serve as blueprints for EU action, while remaining cost-efficient and not creating an undue additional administrative burden for the stakeholders involved;

Added:43. Stresses that financial literacy projects that are financed or co-financed by the EU or run by public authorities should be supported by rigorous assessment tools, including, where appropriate, ex post evaluations or questionnaires designed to assess the development of financial knowledge among the recipients of financial literacy education, and the extent to which their financial habits have changed;

Added:44. Calls on the Commission to report, by the end of 2027, on the uptake and effectiveness of the Financial Literacy Strategy – with information disaggregated per Member State and per target area, where appropriate – including the outcome of the ambassadors’ network, the proposed code of conduct and the EU-wide communication campaign, proposing further action if deemed necessary; invites the Commission to present these findings to Parliament; calls on the Commission to publish a progress report every three years, in this regard, and/or an Eurobarometer survey on financial literacy;

Added:45. Recognises that financial literacy can be derived from many sources, and that the existence of multiple approaches is beneficial; recognises, also, that people are already exploring opportunities for retail investment through easy-to-use products such as exchange-traded funds, often via online portals or digital applications; stresses the value for society and for individual financial security of increased financial market participation by retail investors, provided their involvement is informed; welcomes the move towards a culture of investment among EU citizens, driven in part by media and online engagement, and calls for this to be accelerated;