The European Financial Services Roundtable (EFR) published a working document calling for the creation of Pan-European Pension Plans (EPP), a model for stainable pension solutions that secure a life-long retirement income for current and future generations. An EPP represents a separate highly standardised product family operating alongside the 25 local regimes which would be left undisturbed, and owned by individual participants. To qualify as an EPP these different pension products will have the following key features reflecting common characteristics of private pension systems in the Member States.
The suggested solution of the EFR does not seek harmonisation. In fact it respects the diversity of the existing private pension solutions in the Member States. This would give countries the option to adopt the general EU wide common rules to their national pension system. At the same time it will open the path to future convergence.
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© EFR - European Financial Services Round Table
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