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.
EFAMA Annual Review 2020-2021
It gives me great pleasure to provide you with an overview of our activities since our Ordinary General Meeting of last year.
Towards a stillborn PEPP? | Investment management industry reacts to Commission’s Delegated Act
The European Fund and Asset Management Association (EFAMA) regrets that the European Commission has decided to endorse EIOPAs proposal to include the initial cost of advice under the 1% fee cap for the Basic PEPP (pan-European Personal Pension Product).
The PEPP has the potential to play an important role in delivering retirement savings to millions of European savers, while at the same time contributing to the success of the CMU through the creation of new pools of long-term capital that can help finance the European economy.
EFAMA Annual Asset Management Report the industry bellwether
The European Fund and Asset Management Association (EFAMA) has published today the 12th edition of its Asset Management Report*. The report aims to provide a unique and comprehensive set of facts and figures on the state of the industry at the end of 2018 but also to highlight the fundamental role of asset managers in the financial system and wider economy.
3 Questions to Jonathan Lipkin on the PEPP and EIOPA proposed Level 2 measures
Q #1 Why is the launch of the PEPP of such strategic importance for the funds
industry and overall success of the Capital Markets Union (CMU)?
Above all, the PEPP is a recognition of the importance of individual pension savings at a time
in which European governments have become increasingly fiscally constrained. This has
consequences both for state pension provision and for wider investment in the European
economy.
Household Participation in Capital Markets
This publication precedes the European Commission's forthcoming new Action Plan on the Capital Markets Union (CMU). It includes ten concrete policy recommendations to help advance the CMU, including the introduction of a Key Performance Indicator (KPI) to monitor progress in household participation in capital markets.
Household Participation in Capital Markets - Country Statistical Profiles
