From March, the European Commission’s vision of a simple, cross-border savings product becomes a reality with the launch of the Pan-European Personal Pension Product (PEPP). EU citizens will for the first time be able to channel savings into a long-term third-pillar product that is cost effective, simple and portable across borders. 

That is the theory at least. EIOPA, which will play a central role in monitoring the new product, predicts some 50 providers will launch a PEPP but so far IPE is only aware of three with concrete plans - Portugal’s Ageas; Irish fintech Tontine; and LifeGoals in Cyprus (aka Emergo Wealth).  

Our report charts the emergence of this new retirement savings vehicle, which if successful could be instrumental in channelling the €10trn of European citizens’ cash savings into productive long-term investments and also aid cross-border labour mobility. Leading commentators give their views in detail.

Right now, immediate concerns for potential providers are offering mandatory personalised advice within the 1% charge cap and how robo models might help.

 

 

 

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Special Report – Pan-European Personal Pensions

Map of Europe

From March, the European Commission’s vision of a simple, cross-border savings product becomes a reality with the launch of the Pan-European Personal Pension Product (PEPP). EU citizens will for the first time be able to channel savings into a long-term third-pillar product that is cost effective, simple and portable across ...