The Pan-European Personal Pension Providers Association (PEPPPA) welcomes the publication of the Cross Border Benefits Alliance (CBBA-Europe) position papers on the revision of the IORP II Directive and the Pan-European Personal Pension Product (PEPP) Regulation.
The ongoing review of Europe’s pension and long-term savings framework represents an important opportunity to address some of the most pressing challenges facing European citizens and policymakers alike. Across the European Union, retirement systems are under increasing pressure from demographic changes, longer life expectancy, evolving labour markets and the need to strengthen individual financial resilience.
At the same time, participation in supplementary pension arrangements remains uneven across Member States. Millions of Europeans continue to lack access to adequate occupational or personal pension solutions, while cross-border barriers continue to limit the efficiency and accessibility of retirement products throughout the Union.
In this context, PEPPPA shares many of the objectives outlined by CBBA-Europe.
Strengthening Long-Term Retirement Savings
Europe faces a significant retirement savings gap. Public pension systems remain the cornerstone of retirement provision in many countries, but demographic trends increasingly highlight the importance of complementary occupational and personal savings solutions.
PEPPPA supports policy initiatives that encourage long-term savings behaviour, improve retirement preparedness and provide citizens with greater opportunities to build financial security throughout their working lives.
Improving Cross-Border Accessibility
One of the key ambitions behind the creation of the Pan-European Personal Pension Product (PEPP) was to offer a truly portable retirement savings solution for European citizens.
As labour mobility continues to increase across Europe, retirement products must evolve to reflect the realities of modern careers. Workers who move between Member States should be able to maintain continuity in their retirement savings without unnecessary administrative complexity or fragmentation.
PEPPPA believes that enhancing cross-border accessibility remains essential to achieving the full potential of the PEPP framework.
Supporting the Savings and Investments Union
The European Commission’s Savings and Investments Union initiative highlights the importance of mobilising long-term capital to support economic growth, innovation and competitiveness within Europe.
Well-designed supplementary pension products can play a vital role in this objective by channeling long-term savings into productive investments while simultaneously helping citizens prepare for retirement.
PEPPPA supports initiatives that strengthen Europe’s capital markets while maintaining a strong focus on consumer protection, transparency and retirement adequacy.
Promoting Financial Literacy and Public Awareness
A successful retirement savings culture depends not only on product availability but also on public understanding.
Many Europeans remain unfamiliar with the options available to supplement their retirement income. Improving financial literacy and increasing awareness of long-term savings solutions must therefore form an integral part of any strategy to strengthen retirement outcomes.
Public education and awareness are among PEPPPA’s core objectives, and the association remains committed to supporting informed decision-making by consumers across Europe.
Building a Stronger Future for European Retirement Provision
The review of the IORP II Directive and the PEPP Regulation is about much more than technical amendments. It is an opportunity to create a stronger, more integrated and more resilient framework for long-term savings and retirement provision across Europe.
As the voice of PEPP providers, PEPPPA looks forward to contributing constructively to the ongoing policy discussions and working alongside European institutions, regulators, industry participants and stakeholder organisations to help unlock the full potential of the PEPP framework.
Europe’s future competitiveness, financial resilience and social sustainability will increasingly depend on its ability to encourage long-term savings and provide citizens with accessible, portable and effective retirement solutions.
PEPPPA remains committed to supporting that objective and helping shape a stronger retirement future for all Europeans.
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