BETTER FINANCE reply to the EC Consultation on a potential EU personal pension framework

Traditionally, in most EU Member States, people count on the state-based pension. Only in big companies occupational pension schemes are accepted more broadly if not compulsory. In many Members States, personal pension products are little used because of complexity, high fees, not transparent contract clauses and recently the low interest rate phase, which reduces the possible reward even more. Employees in the unfortunately growing low wage sector simply do not have funds for additional savings.

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