EFAMA outlines rules for EU-wide pension product
Following widespread research and feedback, the association has produced a blueprint which it hopes will guide the European Insurance and Occupational Pensions Authority (EIOPA) as it works to create a standardised EU-pension product.
The product would be a European brand of pension which is designed to overcome what the European Fund and Asset Management Association (EFAMA) said is a “fragmented” European pensions market. The product would need to meet certain standards and be distributed throughout Europe for EU passport-holders.
Feedback around the European personal pension (EPP) concept was generally positive, with 100% of asset management firms wanting to take part as providers, and a third also wishing to act as distributors.
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