BETTER FINANCE, warmly welcomes the European Commission’s stated intention to review the EU framework on supplementary pensions.
Year after year, our research on the real return of long-term and pension savings highlights the dramatic underperformance of too many pension saving solutions across the EU. We therefore strongly support the Commission’s efforts to identify the changes to the EU and national frameworks that have the potential to unlock better returns for pension scheme participants.
More equity investments by occupational pension schemes, lower fees of personal pension products, better information and enhanced investor empowerment, those are issues on which BETTER FINANCE supports decisive action, so that EU citizens take control of their financial future, for their own benefit and that of the EU as a whole, as targeted by the “Savings and Investments Union” agenda.
In this response to the Commission’s call for evidence on supplementary pensions, we develop our views towards the EU framework on occupational and personal pensions, including the review of the IORP II Directive and PEPP Regulation, the development of auto-enrolment schemes in occupational pensions, better key information on personal pensions and pension tracking systems.
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