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.


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


Letter from EIOPA to EC (PEPP)


Pan-European Personal Pension Product (PEPP)

Europeans are soon able to benefit of EU wide retirement saving possibility. Pan-European Personal Pension Product, PEPP, is a voluntary pensions product, complementary to state-based and occupational pensions. PEPP is: cost-efficient tailored to consumer needs, and portable Union-wide

Pan-European Personal Pension Product: Save for your pension anywhere in Europe

Gabriel Bernardino | IORP | PEPP

Pensions in Europe: Current Challenges and Future Prospects

Keynote Address by Gabriel Bernardino, Chairman of EIOPA, at the Occupational Pensions between European Union Rules and National Solutions Conference organised by the Schutzverband der Pensionskassenberechtigten – PeKaBe in cooperation with the European Parliament and European Commission, Vienna.

PEPP Impact Assessment


PEPP technical standards and advice

EIOPA is publicly consulting on its approaches for regulating key aspects of the Pan-European Personal Pension Product (PEPP). During this public event, EIOPA would like to present its key stances on regulating of the PEPP, underpinning the idea of establishing a simple, safe and cost-efficient...

Pepp timeline - 2018

Discussion of the draft Regulation between the co-legislators.

Pepp timeline 2019

Adoption of the Regulation on 25 July 2019. Call for advice from the Commission, mandating EIOPA to work on regulatory and implementing technical standards

Pepp timeline 2020

EIOPA submits to the European Commission draft regulatory and implementing technical standards
PEPP | Consumer protection | Gabriel Bernardino

Public Hearing on the Capital Markets Union (CMU) Mid-Term Review

Gabriel Bernardino, Chairman of EIOPA at the Public Hearing on the Capital Markets Union Mid-Term Review in Brussels.

Speech by Gabriel Bernardino at the Public Hearing on the Capital Markets Union Mid-Term Review, Brussels

Speech by Gabriel Bernardino, Chairman of EIOPA at the Public Hearing on the Capital Markets Union Mid-Term Review, Brussels

Survey on the Pan-European Personal Pension Product

Following the publication of the Delegated Regulation supplementing the Pan-European Personal Pension Product (PEPP), EIOPA today launched a survey on potential offering of PEPP. The aim of this survey is to understand the potential take-up by eligible PEPP providers, for example asset managers,...
PEPP | Gabriel Bernardino

Sustainable long-term investments and the Pan-European Personal Pension Product

Rome Investment Forum 2016 , Financing Long-Term Europe, Session: Finance for Competitiveness, Entrepreneurship and SMEs in Rome.
Gabriel Bernardino | PEPP

The Pan-European Personal Pension Product: A step towards sustainable pensions

Opening address by Gabriel Bernardino, Chairman of EIOPA, at the International Conference on the "Pan-European Personal Pension Product - Regulation, Effects and Problems" organised by the University of Finance, Business and Entrepreneurship (VUZF) in Sofia.