Europe is still not dealing with the tax treatment of Pan European Pension Products in its latest compromise deal to push the contentious product forward, the secretary general of a European lobby group has warned.
European advice trade body Fecif has launched a pensions institute to address the growing pensions gap.
Anyone interested in the future of pensions should welcome the European initiative on the Pan European Personal Pension products (Pepp). Retirement provision is a major issue facing all European countries, hit by a combination of increasing life expectancy and lowering long-term interest rates.
Luxembourg fund bosses are still hopeful of concrete progress this year on a single cross border pension product in the EU.
Fecif, the European Federation of Independent Financial Advisers, is backing the Pan-European Pension product (Pepp) to succeed.
The introduction of a Europe-wide single pension product will be good for providers and savers, an EU regulator has said.
A Europe-wide single pension product may suffer the same “underwhelming” success as the UK’s stakeholder pensions, according to a leading European IFA firm.
Insurance Europe, the trade body that represents the European insurance and reinsurance industry, has slammed plans for an EU-wide single pension product as “poorly designed”.
The European Fund and Asset Management Association (Efama) has urged the European Commission to create a standardised Pan-European personal pension product (Pepp) – in response to ongoing plans to create a single market for financial retail products.
