At last, a Pan-European Pension Product!

Discussions are now starting in earnest in the Council and Parliament on a proposal for a Pan-European Pension Product (PEPP), which fills an important gap in the EU regulatory maze and also responds to the call in the CMU Action Plan for a long-term savings instrument for households in Europe. In this ECMI Commentary, Karel Lannoo appeals to legislators to ensure that the PEPP remains an attractive proposition, which he warns will not be easy because of the huge differences in the national administration of pension savings and the acute sensitivity to any changes in this domain.

Karel Lannoo is General Manager of ECMI and Chief Executive of CEPS.