PensionsEurope welcomes provisional endorsement of PEPP by EU Parliament and EU Council

PEPP now only a few steps away from offering EU citizens a new flexible, portable and secure pension product to save for the future

PensionsEurope welcomes the endorsement earlier this week in the European Parliament’s Economic & Monetary Affairs (ECON) Committee of the PEPP Regulation negotiated with the EU Council. This follows the EU Council’s own approval that took place earlier in February.

PensionsEurope commends the work of the EU Council negotiators and MEP Sophie in’ t Veld, who have reached a balanced and meaningful consensus.

PEPP is a significant contribution to diversifying and strengthening Europe’s pension systems. It will be particularly important for those who do not have access to workplace pensions, as self-employed and workers in new forms of employment, or where personal pensions offered are not reliable or attractive.

PensionsEurope looks forward to the final approval of the PEPP Regulation by the Parliament’s plenary session, so that this product can help address Europe’s pension gap.

Matti Leppälä, Secretary General/CEO of PensionsEurope, said: ‘With PEPP the EU is delivering on Commission President Juncker’s promise to support citizens in retirement whilst increasing long-term funding of the EU economy. If technical measures complementing the PEPP Regulation are appropriately designed and allow all PEPP providers to build on the strengths of their business models, PEPP will bolster pension savings and long-term investment across the EU.’