PensionsEurope response to EIOPA consultation on a possible EU single market for personal pension products

14 August 2013

PensionsEurope highlighted the need to define adequately the scope of private personal pensions, clearly differentiating personal pensions from workplace pensions. EIOPA's powers to adopt effective policy actions in this field were also examined, underlying its lack of competence in fiscal matters.

Moreover, PensionsEurope recognised that both "passporting" and the so-called "2nd regime" have important advantages but also significant drawbacks. Regardless of which approach is finally followed, it is PensionsEurope’s view that it should be respectful with the existing national personal pension schemes regimes so as to avoid disrupting systems that currently operate satisfactorily.

Finally, PensionsEurope asked EIOPA to coordinate closely with the different Directorate Generals of the European Commission dealing with personal and occupational pensions, in order to ensure consistency across the different ongoing initiatives in the EU.

Full response

PensionsEurope website

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