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Regulation (EU) 2019/1238 of the European Parliament and of the Council of 20 June 2019 on a Pan-European Personal Pension Product (PEPP) (Text with EEA relevance)RecitalsChapter I General provisions (arts. 1-4)Article 1 Subject matterArticle 2 DefinitionsArticle 3 Applicable rulesArticle 4 PEPP contractChapter II Registration (arts. 5-13)Article 5 RegistrationArticle 6 Application for registration of a PEPPArticle 7 Registration of a PEPPArticle 8 Conditions for deregistration of a PEPPArticle 9 DesignationArticle 10 Distribution of PEPPsArticle 11 Prudential regime applicable to different types of providersArticle 12 Publication of national provisionsArticle 13 Central public registerChapter III Cross-border provision and portability of PEPP (arts. 14-21)Section I Freedom to provide services and freedom of establishment (arts. 14-16)Article 14 Exercise of the freedom to provide services and freedom of establishment by PEPP providers and PEPP distributorsArticle 15 Exercise of the freedom to provide services by IORPs and EU AIFMArticle 16 Powers of the competent authorities of the host Member StateSection II Portability (arts. 17-21)Article 17 The portability serviceArticle 18 Provision of the portability serviceArticle 19 Sub-accounts of the PEPPArticle 20 Opening of a new sub-accountArticle 21 Provision of information on portability to the competent authoritiesChapter IV Distribution and information requirements (arts. 22-40)Section I General provisions (arts. 22-25)Article 22 General principleArticle 23 Distribution regime applicable to different types of PEPP providers and PEPP distributorsArticle 24 Electronic distribution and other durable mediumsArticle 25 Product oversight and governance requirementsSection II Pre-contractual information (arts. 26-33)Article 26 PEPP KIDArticle 27 Language of the PEPP KIDArticle 28 Content of the PEPP KIDArticle 29 Marketing materialsArticle 30 Revision of the PEPP KIDArticle 31 Civil liabilitiesArticle 32 PEPP contracts which cover biometric risksArticle 33 Provision of the PEPP KIDSection III Advice (art. 34)Article 34 Specification of demands and needs and provision of adviceSection IV Information during the term of the contract (arts. 35-39)Article 35 General provisionsArticle 36 PEPP Benefit StatementArticle 37 Supplementary informationArticle 38 Information to be given to PEPP savers during the pre-retirement phase and to PEPP beneficiaries during the decumulation phaseArticle 39 Information to be given on request to PEPP savers and PEPP beneficiariesSection V Reporting to national authorities (art. 40)Article 40 General provisionsChapter V Accumulation phase (arts. 41-47)Section I Investment rules for PEPP providers (art. 41)Article 41 Investment rulesSection II Investment options for PEPP savers (arts. 42-46)Article 42 General provisionsArticle 43 Choice of investment option by the PEPP saverArticle 44 Conditions for modification of the chosen investment optionArticle 45 The Basic PEPPArticle 46 Risk-mitigation techniquesSection III Other aspects of the accumulation phase (art. 47)Article 47 Conditions related to the accumulation phaseChapter VI Investor protection (arts. 48-51)Article 48 DepositaryArticle 49 Coverage of biometric risksArticle 50 ComplaintsArticle 51 Out-of-court redressChapter VII Switching of PEPP providers (arts. 52-56)Article 52 Provision of the switching serviceArticle 53 The switching serviceArticle 54 Fees and charges connected with the switching serviceArticle 55 Protection of PEPP savers against financial lossArticle 56 Information about the switching serviceChapter VIII Decumulation phase (arts. 57-60)Article 57 Conditions related to the decumulation phaseArticle 58 Forms of out-paymentsArticle 59 Modifications of the forms of out-paymentsArticle 60 Retirement planning and advice on out-paymentsChapter IX Supervision (arts. 61-66)Article 61 Supervision by the competent authorities and monitoring by EIOPAArticle 62 Powers of competent authoritiesArticle 63 Product intervention powers of competent authoritiesArticle 64 Facilitation and coordinationArticle 65 Product intervention powers of EIOPAArticle 66 Cooperation and consistencyChapter X Penalties (arts. 67-70 and draft art. 70a)Article 67 Administrative penalties and other measuresArticle 68 Exercise of the power to impose administrative penalties and other measuresArticle 69 Publication of administrative penalties and other measuresArticle 70 Duty to submit information to EIOPA in relation to administrative penalties and other measuresArticle 70a Accessibility of information on the European single access pointChapter XI Final Provisions (arts. 71-74)Article 71 Processing of personal dataArticle 72 Exercise of the delegationArticle 73 Evaluation and reportArticle 74 Entry into force and applicationDone at
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Version status: Applicable | Document consolidation status: Updated to reflect all known changes
Version date: 22 March 2022 - onwards
Version 3 of 3

Article 43 Choice of investment option by the PEPP saver

Having received the relevant information and advice, the PEPP saver shall choose an investment option when concluding the PEPP contract.

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