Pan-European Personal Pension Product (PEPP)

Everyone can save with a PEPP

Everyone: employed, part-time, full-time self-employed or unemployed can save with a PEPP. It is particularly interesting for mobile workers who move between different EU countries. Mobility in the European Union will become even easier for EU citizens.

Save for your pension in any EU country!

PEPP is designed to give consumers more choice

PEPP will provide the savers more choice and more competitive products. Savers will also enjoy strong consumer protection.

Key benefits for savers:

• Possibility to switch providers every five years, at capped costs
• Mobility: savers will be able to continue saving in the same product even when they change residence in the EU
• Full transparency on the product, including on costs and fees –relevant information will be disclosed via a simple Key Information Document (KID) supplied before the purchase, complemented by a personalised pension benefits statement during the product lifetime
• Affordable default investment option (Basic PEPP): costs capped at 1% of the accumulated capital per annum 
• Protection of the capital invested: the Basic PEPP will safeguard the consumers’ invested capital

Many financial providers can offer PEPP products

A broad range of financial providers can offer PEPPs: insurers, occupational pension funds, asset managers, banks, etc.

Providers benefit from cost-efficient solutions to offer their services across the EU as they tap into a bigger market. Furthermore, they will be able to sell PEPPs online and to distribute them across the EU with one single product registration.