Pensions
Pension provision inadequacy will remain a major challenge for Member States and European citizens, particularly in light of Europe’s ageing population and the impact of the Covid-19 crisis on government debt levels. Promoting retirement savings should become a major priority for policymakers, at the national and European level. This would not only support the future financial well-being of citizens but also contribute to strengthening of the Capital Markets Union.
EFAMA strongly supported the Commission’s proposal to create a pan-European Personal Pension Product (PEPP). We will evaluate the development of the market in the coming years and, if necessary, develop proposals for amending the PEPP Regulation. EFAMA will continue to take part in any relevant consultations on pension issues, to ensure the position of our industry is taken into account. We will continue raising public awareness on the importance of saving for retirement, including by playing an active role in the launch of a European Retirement Week, the first edition of which will take in 2021 during the week starting on 29 November. Finally, we will keep a close eye on the IORP Directive and contribute to its review.
EFAMA’s comments on the European Commission’s proposal for a Regulation on a pan-European personal pension product (PEPP)
The PEPP - Engaging the young generation of European savers
EFAMA Response to EIOPA Consultation on PPPs
EFAMA welcomes EIOPA’s consultation and the opportunity to share our views on EIOPA’s recommendations to develop an EU single market for personal pensions.
EFAMA supports the conclusions of EIOPA’s impact assessment:
• The standardization of key elements of a PEPP - as proposed by EIOPA in its advice - with space to accommodate the specificities of Member States, is the best policy option.
• It would be difficult to achieve full standardization via harmonization because this would require bringing all national regulations on PPPs to one level.
Response to EIOPA on technical advice for the review of the IORP II Directive
EFAMA believes that IORPs should be able to invest in financial instruments traded in all third country markets where the latter meet certain conditions, regardless of the adoption of an equivalence decision by the Commission (...).
The contributions of capital markets and asset managers to good defined contribution pension outcomes
The European Retirement Week 2022 took place from 28 November to 3 December 2022.
Rethinking our pension system sustainability and adequacy
EFAMA spoke with its own Bernard Delbecque, Senior Director of Economics & Research, for the publication of the 8th issue of the "3 Questions 2" (3Q2) series, on rethinking our pension system sustainability and adequacy.
The aim of 3Q2 is to raise awareness on specific topics of interest to our membership in a clear and concise manner.
3 questions to Sheila Nicoll and Alexander Schindler on the Capital Markets Union High Level Forum
Q #1 What is the difference of the High-Level Forum report to previous initiatives on the Capital Markets Union? What is different this time around?
Annual Review June 2019-June 2020
"It gives me great pleasure to provide you with an overview of our activities since our Annual General Meeting in Paris last year. While we were very much looking forward to hosting you all in Brussels this week, the current crisis and associated travel restrictions has forced us to improvise and turn our meeting into a virtual AGM.
EFAMA Report: Towards a Single Market for European Personal Pensions
EFAMA published in September 2013 a report presenting a blueprint for a “European brand” of
personal pension products, referred to as “Officially Certified European Retirement Plan” (OCERP). In
response to numerous comments received on the name chosen for this product (OCERP), EFAMA has
decided to rename it “European Personal Pension” (EPP) to facilitate the public’s understanding of the
concept.
