EuroFinUse Response to the Third Pillar Retirement Products Questionaire

EuroFinuse is extremely concerned by the urgently needed development of second and third pillar pension products in the European Union, in view of the current restraints for welfare policies due to Member States' budgetary constraints. We believe that private pension products-related areas in the EU do not only lack of a necessary regulatory framework; but even lack clear definition, scope and classification. More specifically, we are very aware of the discrepancies between the different systems of classification (operational versus pillar-based) and we believe this is the first issue that should be tacked: one cannot regulate what is ill-defined.

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