EU pushes ahead with PEPP reform

The EU has published its Pensions Package. This includes, among other things, the reform of the Pan-European Personal Pension Product (PEPP).

Thomas Richter, BVI’s CEO, says:

’Removing the fee cap on PEPP eliminates a major hurdle. However, it is questionable whether EU Member States will be willing to provide the necessary tax incentives. Without these, the product will still not succeed. In Germany, the planned tax-advantaged retirement savings account will be the more attractive option for savers.’