Follow Us

Follow us on Twitter  Follow us on LinkedIn

06 July 2016

EIOPA advises on the development of an EU single market for personal pension products

Default: Change to:

The European Insurance and Occupational Pensions Authority published the final Advice on the further development of a single European Union market for personal pension products.

This Advice completes the European Commission's Call for Advice on how the European Union-wide framework for personal pensions can be further developed.

EIOPA confirms its views that in a highly heterogeneous market for personal pension products and complementary pension savings in Europe, harmonising Directives and rules across the different relevant sectors may not be the most efficient tool for creating a European Union Single Market for personal pension products.

Therefore, in line with its Advice of 1 February 2016, EIOPA remains of the view that a standardised Pan-European Personal Pension Product (PEPP) regulated by a 2nd regime for personal pensions has the best potential to promote the Single Market and to strengthen the regulatory framework for the benefit of protection of consumers.

The PEPP, a safe, transparent and cost-effective long-term retirement savings product, enables the much needed, at least in some Member States, additional pensions' savings. Furthermore, it is an important tool for the successful completion of the Capital Markets Union.

Full advice



< Next Previous >
 Hover over the blue highlighted text to view the acronym meaning
Hover over these icons for more information

Add new comment