The consultation will help the Commission analyse the case for an EU personal pension framework. It builds on previous consultations launched by the Commission and EIOPA on personal pensions, but increases their scope. In July 2012 and in 2014, the European Commission asked EIOPA to develop technical advice on an EU Internal Market for personal
BETTER FINANCE and EFAMA have always been strong supporters of the “PRIIPs” Key Information Document (“KID”), seeing it as a powerful instrument for retail investors to enable sound investment choices by allowing easier comparisons within a wide range of investment products. In order for this to happen, the rules defining the detailed contents of the
The remaining barriers to cross-border distribution are varied – and may include the impact of concentrated fund distribution channels in individual member states, cultural preferences for funds managed in investors’ home states, and a lack of incentives for managers to compete cross-border. However, one obstacle that has been consistently cited, and which may be relatively
BETTER FINANCE of course shares the view of MEP Sven Giegold that financial markets must serve consumers and end-users, and welcomes the European Parliament’s ECON Committee focus on the mis-selling of financial products. BETTER FINANCE experiences that the mis-selling of saving and investment products is a major issue of enforcement and supervision as several key
Presentation of the worrying findings of the BETTER FINANCE report on the state of pensions in Europe.
One year into the project, how is the CMU faring for EU citizens as savers? BETTER FINANCE presented its CMU Barometer © in order for citizens to track its progress. One year after the launch of the CMU Action Plan, and almost sixty years after the Treaty of Rome, key indicators that track the performance
The findings from the 2016 research report released today clearly confirm that the long-term performance of the actual savings products promoted to EU citizens (in particular for long-term and pension savings) unfortunately has very little in common with the performance of capital markets. This is mainly due to the fact that most EU citizens invest
As stated by the European Commission itself, the CMU aims to “strengthen the link between savings and growth”. Since “households are the principal net savers in the economy” the CMU project looks to “boost retail investments into capital markets and enhance individual confidence”. In order for the CMU initiative to work for individual savers and
BETTER FINANCE, supports the proposed resolution by the European Parliament to reject the misleading and overly complex draft implementation rules (“Regulatory Technical Standards” or RTS) of the “PRIIPs”. BETTER FINANCE however regrets that the stated reasons for the proposed resolution for rejection of the RTS include only those advocated by the financial industry, omitting the
In 2015, EIOPA clearly advised for the EU to launch a Pan European Personal Pension, rather than to unrealistically try to harmonise rules for the very diverse and fragmented existing personal pension products at Member State level. However…