Framework for a pan-European personal pension product (PEPP)
Europe's population is ageing, due to people living longer and having fewer children, putting pressure on pension systems and leading to reforms to make public pensions more sustainable – and often less generous – in future. To support retirement incomes, the European Commission's 2012 pensions white paper called for more opportunities for citizens to save in safe and good-value complementary pensions. The aim of the proposed framework for a pan-European personal pension product (PEPP) was to encourage the development of personal (voluntary, individually funded) pensions in Europe, to support retirement saving and strengthen the single market for capital by making more funds available for investment. Generally the proposal was considered a welcome extra option to support retirement savings and investment. However differing national pension systems and tax treatments were noted as challenges, although the Commission also issued an accompanying tax recommendation. Following trilogue negotiations, an agreement was reached on the legislative proposal. It was subsequently approved by the Parliament on 4 April 2019 and by the Council on 14 June 2019. The final act was signed on 20 June 2019. Third edition of a briefing originally drafted by David Eatock. The ‘EU Legislation in Progress’ briefings are updated at key stages throughout the legislative procedure.
Briefing
À propos de ce document
Type de publication
Auteur
Domaine politique
Mot-clé
- analyse économique
- consommation
- construction européenne
- droit de l'UE
- droit de l'Union européenne
- FINANCES
- GÉOGRAPHIE
- géographie économique
- information du consommateur
- institutions financières et crédit
- investissement et financement
- libre circulation des capitaux
- marché des capitaux
- marché unique
- procédure législative ordinaire
- promotion des investissements
- proposition (UE)
- protection sociale
- QUESTIONS SOCIALES
- retraite complémentaire
- réglementation des investissements
- société d'investissement
- UNION EUROPÉENNE
- ÉCHANGES ÉCONOMIQUES ET COMMERCIAUX
- ÉCONOMIE
- État membre UE
- étude d'impact