FECIF Advisory Committee Members
A PEPP saga update: pep or dud?
FECIF readers are now familiar with the European project to create a cross-border market for individual pension savings, the Pan-European Personal Pensions (PEPP) initiative.
Since this initiative first surfaced about three years ago, there has been remarkable consensus about how relevant and worthy it is, and very little practical results so far. Indeed, one could be forgiven for expressing a deep, sceptical sigh after the announcement at the end of February that the ECON committee of the European Parliament had agreed on the final version of the PEPP regulation, that can now proceed to the formal vote in plenary session.
So, what is the score on the PEPP? Is it making good progress towards creating a pan-European market for third-pillar pensions, helping Europeans build a nest egg for retirement and shoring up the Capital Market Union (CMU)? Or will it remain a list of good intentions, with no practical impact?
Recent progress on PEPP is very encouraging
FECIF and its pensions think-tank FEPI have been very supportive of the PEPP initiative from the very beginning, because we believe it lies at the heart of what matters to our clients, long-term financial security, and therefore at the heart of the mission of our members, helping and advising clients.