The head of the European Insurance and Occupational Pensions Authority (EIOPA) has proposed an expansion of the organisation's mandate and called for the creation of an "EU retirement savings product".
Speaking at EIOPA's annual conference in Frankfurt this morning, Gabriel Bernardino (pictured) said the Europe-wide regulator's remit should be expanded to cover ‘third pillar', or private pensions. He said this was necessary to ensure a "sufficient level of regulation and supervision of personal pensions"and help the European Union drive for adequate, safe and sustainable pensions in member states. "There are merits in developing an EU-wide framework for the activities and supervision of individual retirement savings, containing both prudential and consumer protection measures," he s...
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