EIOPA’s role in PEPP

Foster consistent implementation of PEPP

The PEPP Regulation empowers EIOPA to:

  • Develop technical standards around reporting to the supervisors about PEPP providers and products to enable consistency and transparency
  • Register new PEPPs in a central register. EIOPA will provide for a central database to get information on all PEPPs in Europe. Once registered, the providers can distribute their products in all European Union countries. 
  • Monitor the evolution of the market with strong monitoring powers to enable an efficient PEPP market.
  • Issue a temporary ban or restriction of the marketing, distribution or sale of specific PEPPs within the whole EU, under certain conditions.

EIOPA will be able to support the development of an internal market for personal pensions, while implementing the Regulation at European level. The focus will be on establishing an efficient market for PEPP in the consumer's interest.

Background

Aiming to deliver adequate, safe and sustainable pensions to its citizens, in 2013 the European Commission asked EIOPA to draw out the potential of an EU single market for personal pension schemes outside the occupational pension framework. This work resulted in the publication of a preliminary report in 2014 Towards an EU single market for personal pensions.

Subsequently, the European Commission called EIOPA technical advice on the framework necessary to develop an EU single market for personal pension products (PPP) in 2014. In 2016, EIOPA submitted its advice recommending the creation of a standardised Pan-European Personal Pension Product (PEPP)  Advice on the development of an EU Single Market for personal pension products (PPP), in the form of a complementary regime alongside national regimes. EIOPA proposed the PEPP as being the most potent option to promote the Single Market and to strengthen the regulatory framework for the benefit of protection of consumers.

Following EIOPA’s advice, the European Commission published in 2017 a proposal for a regulation on a PEPP. The proposal was accompanied by a recommendation to the Member States on the tax treatment of personal pension products including the PEPP. The legislative proposal was discussed and further developed by the co-legislators.

The PEPP Regulation was published on 25 July 2019, with entry into force on 14 August 2019.

In August 2020, EIOPA delivered to the European Commission the draft Regulatory and Implementing Technical Standards and advice on Delegated Acts for the design and delivery of the PEPP:

EIOPA’s proposal

PEPP proposed legal instruments and technical advice:

Regulatory Technical Standards

Technical advice on supervisory reporting

Technical advice on criteria for EIOPA’s product intervention powers

Implementing Technical Standards

PEPP other documents of the proposal:

-    PEPP Impact assessment
-    Report on consumer testing of PEPP information documents
-    Description of EIOPA's stochastic model used for PEPP  
-    Letter from EIOPA to EC

The Regulation on the PEPP establishes the legal foundation for a pan-European personal pension market.

EIOPA's proposal in a nuthsell

Fausto Parente | PEPP

Capital Markets Union: Pan-European Personal Pension Product (PEPP)

Speaking points by Fausto Parente, Executive Director of EIOPA, at the European Parliamentary Financial Services Forum (EPFSF) Lunch event in Brussels.
PEPP

Description of EIOPA’s stochastic model used for PEPP

Please provide any comments and contributions on the stochastic model to: eiopa.PEPP.stochastic-model@eiopa.europa.eu
PEPP

EIOPA calls for candidates to join Expert Panel on Pan-European Personal Pension Product Regulation

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PEPP

EIOPA establishes Expert Practitioner Panel on the Pan-European Personal Pension Product (PEPP)

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EIOPA finalises the regulation of the pan-European Personal Pension Product

Today the European Insurance and Occupational Pensions Authority (EIOPA) delivered to the European Commission a set of draft Regulatory and Implementing Technical Standards and its advice on Delegated Acts to implement the framework for the design and delivery of the Pan-European Personal Pension...
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EIOPA publicly consults on implementing technical standards for supervisory reporting and cooperation for the Pan-European Personal Pension Product (PEPP)

Today, the European Insurance and Occupational Pensions Authority (EIOPA) launched the public consultation on implementing technical standards for supervisory reporting and cooperation as mandated by the Pan-European Personal Pension Product (PEPP) Regulation. The proposals specify the annual...
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EIOPA publicly consults on its approaches for regulating key aspects of the Pan-European Personal Pension Product (PEPP)

Frankfurt, 2 December 2019 – Today, the European Insurance and Occupational Pensions Authority (EIOPA) launched the public consultation of its approach to the regulatory and implementing standards, and technical advice to the European Commission on delegated acts, as mandated by the Pan-European...
Consumer protection | PEPP

EIOPA welcomes agreement on a Pan-European Personal Pension Product

Page Content The European Insurance and Occupational Pensions Authority (EIOPA) welcomes the agreement reached by the European Parliament and the Members States on the proposal for a Pan-European Personal Pension Product, the PEPP. Gabriel Bernardino, Chairman of EIOPA, said: " Today's agreement is...
Gabriel Bernardino | PEPP

EIOPA welcomes the adoption of the Regulation introducing a Pan-European Personal Pension Product

The European Insurance and Occupational Pensions Authority (EIOPA) welcomed today's adoption by the European Parliament of the Regulation introducing a Pan-European Pension Product, the PEPP. Gabriel Bernardino, Chairman of EIOPA said: " This Regulation is an important first step towards giving...
Consumer protection | IDD | PEPP | Regulation | Supervisory framework

Exploring new horizons for the benefit of the citizens in the European Union

Speech by Gabriel Bernardino, Chairman of EIOPA, at the 6th Annual Conference of EIOPA in Frankfurt.
Fausto Parente | PEPP

How can Pan-European Personal Pensions (PEPP) work best for the European citizens?

Presentation by Fausto Parente, Executive Director of EIOPA, at the Pan-European Pension Forum in Prague.
Justin Wray | PEPP | Solvency II | Sustainability

Interview with Justin Wray

​Interview with Justin Wray, Deputy Head of the Policy Department of EIOPA, conducted by Evgenia Tzortzi for Kathimerini.
PEPP

Letter from EIOPA to EC (PEPP)