more" />more" />more" />
AEIP
  • Offcanvas Icon
    • Home
    • About AEIP
      • About us
      • Mission & Vision
      • AEIP Team
      • Governance of AEIP
      • Members
      • Activity Reports
      • AEIP Vacancies & Internships
    • Working Groups
    • Publications
    • Partnerships
      • Protocols of cooperation
      • Scientific Council
    • Events
      • Conference
    • Contact
  • Mail : general@aeip.net
  • Tel : +32 2 233 54 20
  • Home
  • Newsletters
  • Contact
  • Archives
  • Intranet
  • Latest News
AEIP
  • About AEIP
    • About us
    • Mission & Vision
    • AEIP White Paper
    • AEIP Team
    • Governance of AEIP
    • Members
    • Activity Reports
    • AEIP Vacancies & Internships
  • Working Groups
  • Publications
  • Partnerships
    • Protocols of cooperation
    • Scientific Council
  • Projects
    • European Tracking Service on Pensions
    • Towards a New Start of Industrial Relations in Construction in CEEs
    • Information Sharing Agreements
    • Youth Employment Skillset in Posting
    • Mental Health in the Construction Sector Project
  • Events
    • Upcoming Events
    • Past Events
    • Annual Conference 2022: Video
  • Gallery
    • 2018 11 08 – AEIP – ANNUAL CONFERENCE 2018
    • 2019 11 06 – AEIP – ANNUAL CONFERENCE 2019
  • Notification

AEIP answer to the EC consultation on a potential EU personal pension framework

Homepage Position Papers AEIP answer to the EC consultation on a potential EU personal pension framework

AEIP answer to the EC consultation on a potential EU personal pension framework

Cécile Henrotte
07/11/2016
Position Papers

AEIP welcomes the opportunity to provide its feedback on the public consultation on the feasibility of a potential EU policy framework to establish a successful European market for simple, efficient and competitive personal pensions.

AEIP fully supports the goal of delivering sustainable and adequate pensions in the EU. While emphasizing that the 1st pillar remains the largest part of retirement coverage in most Member States, we support the general aim of having multi-pillar pension systems in the EU and the development of a strong EU framework for supplementary pension savings.

AEIP would like to raise the following key remarks:

  • We are pleased that the Commission has clearly made a distinction between 2nd pillar workplace pensions on the one hand, and 3rd pillar personal products on the other hand. AEIP was advocating for clarifying this since EIOPA’s consultations.
  • We believe that the overall aim of this initiative should be to reduce the pension gap, while safeguarding the existing well-functioning pension systems: today, a majority of employees do not have access to supplementary pension savings.
  • In order to reach this goal, we fear that the introduction of a new standardized 3rd pillar product will not be sufficient, but it could improve supplementary retirement savings in those countries where there is no or not a well-developed personal pension system, or there is limited workplace pension coverage.
  • All personal pension products, and not only an EU-wide pension solution, should be safe, transparent and cost-effective.
  • If an EU product (i.e. the PEPP) will be proposed, it should be a true long-term pension product, allowing providers to generate long-term liabilities and incentivizing consumers to save for a long period. A proper consideration of the decumulation phase and of minimum holding period is needed, as these are key features for pension products.
  • Any risk of harmonization towards the bottom must be avoided: any new regulation on private pensions should include a principle-based framework legislation that allows Member States to apply additional rules aimed at increasing the duty of care towards consumers.
  • New rules cannot by any means offer an opting-out nor contracting-out opportunity to the national 1st and 2nd pillar pensions.
  • All in all, we believe that the EU Institutions should focus their efforts in further promoting and spreading collective occupational pensions that, compared to 3rd pillar products based on a voluntary individual membership and sold on a retail basis, have clear advantages.
  • We plead for a broader pension debate in Europe that takes into consideration the different pension pillars through a holistic view of old-age income.

AEIP is ready to provide its expertise and input to such a debate.

Read our answer at this link.

Download the press release at this link.

Previous Story
AEIP 8th Venice Annual Conference
Next Story
Group of Nine broadly welcomes new rules for EU Pension Funds

Related Articles

AEIP publishes its position paper on the proposal for a Corporate Sustainability Due Diligence Directive

In view of the ongoing discussions on the proposal for...

AEIP publishes its position paper on the upcoming review of IORP II Directive

In view of the upcoming review of the IORP II...

Recent Posts

  • AEIP statement on Council recommendation on Long-term care Monday, 23, Jan
  • AEIP publishes its position paper on the proposal for a Corporate Sustainability Due Diligence Directive Thursday, 19, Jan
  • Report on AEIP’s Annual Conference 2022 Wednesday, 18, Jan
  • AEIP reiterates its support to co-legislators for the achievement of the European Health Data Space (EHDS) Monday, 16, Jan

Categories

  • Archives
  • News
  • Position Papers
  • Press Releases
  • Studies & Reports
  • Uncategorized

AEIP

The European Association of Paritarian Institutions (AEIP)
Rue Montoyer 24
B – 1000 Brussels

Tel: +32 2 233 54 20
Mail: general@aeip.net
Contact us

Links

  • About AEIP
    • About us
    • Mission & Vision
    • AEIP White Paper
    • AEIP Team
    • Governance of AEIP
    • Members
    • Activity Reports
    • AEIP Vacancies & Internships
  • Working Groups
  • Publications
  • Partnerships
    • Protocols of cooperation
    • Scientific Council
  • Projects
    • European Tracking Service on Pensions
    • Towards a New Start of Industrial Relations in Construction in CEEs
    • Information Sharing Agreements
    • Youth Employment Skillset in Posting
    • Mental Health in the Construction Sector Project
  • Events
    • Upcoming Events
    • Past Events
    • Annual Conference 2022: Video
  • Gallery
    • 2018 11 08 – AEIP – ANNUAL CONFERENCE 2018
    • 2019 11 06 – AEIP – ANNUAL CONFERENCE 2019
  • Notification

News

  • AEIP publishes its position paper on the proposal for a Corporate Sustainability Due Diligence Directive
  • Report on AEIP’s Annual Conference 2022
  • AEIP reiterates its support to co-legislators for the achievement of the European Health Data Space (EHDS)
  • AEIP publishes its position paper on the upcoming review of IORP II Directive
  • AEIP is looking for a new Executive Director to lead its lobbying activities in Brussels
  • European Retirement Week: Joint event AEIP/ PensionsEurope on (E)SG: Social and Governance Factors in Europe
  • European Retirement Week kicks off today

Follow us on Twitter

Copyright ©2018 AEIP Disclaimer - Made by Info Bel consulting, hosting Anagramme. All Rights Reserved
SearchPostsLogin
Monday, 23, Jan
AEIP statement on Council recommendation on Long-term care
Thursday, 19, Jan
AEIP publishes its position paper on the proposal for a Corporate Sustainability Due Diligence Directive
Wednesday, 18, Jan
Report on AEIP’s Annual Conference 2022
Monday, 16, Jan
AEIP reiterates its support to co-legislators for the achievement of the European Health Data Space (EHDS)
Thursday, 12, Jan
AEIP publishes its position paper on the upcoming review of IORP II Directive
Monday, 19, Dec
AEIP is looking for a new Executive Director to lead its lobbying activities in Brussels

Welcome back,