New Pan-European Personal Pension proposed

Trustees Agenda posted on 29 June, 2017

The European Commission has released a legislative proposal to implement a Pan-European Personal Pension Product (PEPP) in the European Union.

PEPPs will complement existing state-based, occupational and national personal pensions and will have the same standard features wherever they are sold in the EU. A broad range of providers, such as insurance companies, banks, occupational pension funds, investment firms and asset managers, will be able to offer them.

The European Insurance and Occupational Pensions Authority (EIOPA) has welcomed the proposal as a "huge and concrete step forward in filling the pension gap for the benefit of European citizens".