EU unveils plans for pan-European personal pension product

The Commission said the PEPP was designed to give savers more choice when they were putting money aside for old age, and aimed to provide them with more competitive products. The initiative, it added, was intended to be complementary to existing pension plans - whether state-based, occupational or personal - rather than to substitute or replace them. The pension product will be transferrable across member states and will have standardised core product features, such as transparency requirements, investment rules, switching and portability. It will, however, remain flexible enough t...