05 Sep, 2018

Agreement reached on new pan-European pensions

Other key committee votes of the week included Sophie in β€˜t Veld MEP’s legislative report on the so-called Pan-European Personal Pension Products (PEPP), providing a new way of pension savings for European citizens.

At present not every country has its pension provisions in good order. A new option to build up pension at European level and with European supervision is good news for individual savers in those countries. These people are no longer at the mercy of the markets, but can store their money with a professional provider that meets strict European rules.

In 't Veld commented after carrying the vote in the Economic and Monetary Affairs committee (ECON): "A safe and reliable pension is very important for everyone in Europe, but by no means self-evident. With PEPP, you have the opportunity to save safely and predictably for your pension wherever you live in Europe."

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