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How tackling in one go both the funding gap of the existing pension provisions, which has become a challenge due to the ageing populations in Europe and an increasing need for long-term investment to stimulate stronger and sustainable growth? By channelling retail investors’ long-term savings towards investment through a new product: the Pan-European Personal Pension Product (“PEPP”).
As part of its Capital Market Union initiative, the EU Commission has just released a proposal which aims at creating a new personal pension product that can be offered to EU citizens as an alternative to the products that are currently available at national level, including in jurisdictions where the offer of existing products for personal or occupational pensions is weak...
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