Pan-European personal pension product (PEPP)

02-04-2019

An aging population increases pressure on pension systems, and traditional pay-as-you-go pensions are likely to be less generous in the future. To increase the options for those saving for retirement, and stimulate competition on the market, the European Commission proposed a new EU framework for a voluntary personal pension product (PEPP), which would be complementary to other personal pensions and national regimes. Trilogue negotiations concluded with a compromise approved by the ECON committee and by the Council. The European Parliament is due to vote on the PEPP file during the April I plenary session.

An aging population increases pressure on pension systems, and traditional pay-as-you-go pensions are likely to be less generous in the future. To increase the options for those saving for retirement, and stimulate competition on the market, the European Commission proposed a new EU framework for a voluntary personal pension product (PEPP), which would be complementary to other personal pensions and national regimes. Trilogue negotiations concluded with a compromise approved by the ECON committee and by the Council. The European Parliament is due to vote on the PEPP file during the April I plenary session.