The Pan-European Personal Pension Product (PEPP) is designed for the European citizen, enabling consumers to save for their future retirement throughout their European career in a safe, transparent and high-quality pension product.
PEPP is a voluntary personal pension scheme that will complement existing public and occupational pension systems, as well as national private pension schemes.
PEPPs are regulated by the Regulation 2019/1238, also known as the PEPP Regulation. The PEPP Regulation establishes the legal foundation for a pan-European personal pension market, by ensuring standardisation of the core product features, such as: transparency requirements, investment rules, switching right and type of investment options.
The Delegated Regulation on PEPP was published in the Official Journal on 22 March 2021 and the PEPP Regulation thereby became applicable on 22 March 2022.
The remaining Level II texts were published on 04.06.2021. They relate to:
- Delegated Regulation with regard to product intervention (EUR-Lex – 32021R0895 – EN – EUR-Lex (europa.eu))
- Delegated Regulation for the purposes of the convergence of supervisory reporting (EUR-Lex – 32021R0896 – EN – EUR-Lex (europa.eu)).
- Implementing technical standards with regard to the format of supervisory reporting to the competent authorities and the cooperation and exchange of information between competent authorities and with the EIOPA (EUR-Lex – 32021R0897 – EN – EUR-Lex (europa.eu)).
At the same time, EIOPA issued Guidelines on the supervisory reporting for the Pan-European Personal Pension Product (PEPP), in order to ensure the harmonised and consistent application of reporting requirements (EIOPA issues Guidelines on the supervisory reporting for the Pan-European Personal Pension Product | EIOPA (europa.eu)).