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Framework for a pan-European personal pension product (PEPP) [EU Legislation in Progress]

Written by David Eatock (2nd edition, updated on 21.11.2018),

Pan European personal pensionac

© / Shutterstock

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 proposed framework for a pan-European personal pension product (PEPP) aims to encourage the development of personal pensions (that is, 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 is considered a welcome extra option to support retirement savings and investment. However differing national pension systems and tax treatments are noted as challenges, although the Commission has also issued a tax recommendation. Council agreed a general approach on 19 June 2018 and the ECON committee voted its report and negotiating mandate on 3 September, hence trilogues have started.

Interactive PDF

Proposal for a Regulation of the European Parliament and of the Council on the law applicable to the third-party effects of assignments of claims
Committee responsible: Economic and Monetary Affairs (ECON) COM(2017) 343
Rapporteur: Sophia in ‘t Veld (ALDE, The Netherlands) 2017/0143 (COD)
Shadow rapporteurs:




Brian Hayes (EPP, Ireland)
Renato Soru (S&D, Italy)
Ashley Fox (ECR, United Kingdom)
Martin Schirdewan (GUE/NGL, Germany)
Bas Eickhout (Greens/EFA, The Netherlands)
Gerolf Annemans (ENF, Belgium)
Ordinary legislative procedure (COD) (Parliament and Council on equal footing – formerly ‘co-decision’)
Next steps expected: Continuing trilogue discussions

EU Legislation in progress: Committee vote



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