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.
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.
Better Pensions, Better Lives: How investment funds can help individuals save for retirement and reduce fiscal pressures on governments
The investment industry and policymakers must co-ordinate efforts to promote funded retirement saving and improve financial literacy to ensure that billions of people can live comfortably in their later years and, in the process, ease the fiscal pressure on governments. Financially-literate individuals are more likely to make better-informed financial decisions and to understand the benefits of long-term investments.
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.
