AEIP publishes its updated position on the PEPP
In light of the latest trilogue negotiations regarding the PEPP, AEIP has published its most recent position paper.
In order to reflect the additionality of PEPP to existing national pension systems, Member States that wish so, should be free to maintain restrictions that are in conformity with the IORP II Directive. We would like to stress on the need for a sufficient flexibility given to MSs with regard to making the decision on the inclusion or exclusion of IORPs as eligible PEPP providers.
AEIP is convinced that NCAs should be the ones giving the authorization to providers for the creation or distribution of the PEPP. In that sense, AEIP agrees with the position of the Council, which overall supports the role of NCAs as the primary competent authority for deciding on the authorization of the PEPP, in accordance with the subsidiarity principle.
When it comes to the role of EIOPA, it’s important to strike a right balance. On the one hand, NCAs know their pension markets best. On the other hand, EIOPA should be a central actor in making the PEPP a true ‘European’ product.