The European Insurance and Occupational Pensions Authority (EIOPA) today published a Consultation Paper related to the development of an EU Single Market for personal pension products (PPPs).
This public consultation will provide input, within the broader context of the Call for Advice from the Commission, on how PPPs and a possible European Union-wide framework can be further developed.
The consultation paper contains EIOPA’s final advice on the attractiveness and feasibility of a 2nd regime Pan-European Personal Pension Product (PEPP). This advice takes the stakeholders’ feedback received through the public consultation conducted in summer 2015 into account. EIOPA also invites stakeholders and interested parties to provide feedback particularly on the following proposed areas:
· Governance standards for providers of PPPs
· Harmonised basis for product governance rules for PPPs
· Harmonised basis for distribution rules for PPPs
· Harmonised disclosure rules for PPPs
· Possible specific additional capital requirement for PPPs
· Further powers for national supervisors that are tailored to PPPs
The consultation period will end on 26 April 2016.