The Council today adopted two key reforms in the framework of the Capital Markets Union.

They adopted:

• a regulation providing greater choice for people who wish to save for their retirement and expanding the market for personal pensions through the creation of a "pan-European pension product" (PEPPs).

• a package of measures aimed at removing existing barriers to the cross-border distribution of investment funds.

PEPPs

The PEPPs regulation creates a new type of voluntary personal pension product. Its features will be the same throughout the EU and it can be offered by a wide range of providers, such as insurance companies, banks, occupational pension funds, investment firms and asset managers. Providers will benefit from an EU passport, allowing them to sell PEPPs in different member states.  

The PEPP will give people a new EU-wide saving option that will complement state-based, occupational and national personal pension schemes. It will allow consumers to voluntarily complement

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