Press Release

EPP Group in favour of new optional Pan-European pensions

Brussels
, 04.09.2018 - 09:03
Senior woman playing hopscotch while husband watching her

The EPP Group voted in favour of a legal framework for a new Pan-European Personal Pension Product (PEPP) on Monday evening. “This is good news for European consumers. This will be a safe, cost-effective and reliable product with EU branding and backing.  It is an additional feature of our pension landscape and will not cut across the Member States' existing national pension systems", said Brian Hayes MEP, after the European Parliament's Committee on Economic Affairs approved the changes to the law he suggested.

“In Europe, we have a potential pension time bomb coming down the track. Populations are ageing and the old age dependency ratio is increasing. State pension schemes will come under more pressure in the future and that is why we need to ensure that citizens have access to additional pension products. With this proposal, people will be encouraged to put more aside for their retirement needs", explained Hayes.

A potential pension time bomb is coming down the track. Brian Hayes MEP

Parliament will now enter into negotiations with Member States to get a final agreement on the legislation. "Such a pension product can be easily transferred from one Member State to another. It’s the product for the new mobile workforce”, Hayes stressed.

Note to Editors
The EPP Group is the largest political group in the European Parliament with 219 Members from 28 Member States

MEP Contacts

-
Brian HAYES
BRU - Phone: +32 (0)2 2845275 Fax: +32 (0)2 2849275
Email: brian.hayes@europarl.europa.eu

Press Contacts

Daniel Köster
Press Officer on Economy and Environment, Economic and Monetary Affairs and Austrian Media, Communication
Phone: +32 487 384 784
Cliona Connolly
Press Officer for Legal and Home Affairs Working Group and Irish Media, Communications Strategy
Phone: +32 475 957 874

Latest

Combines harvesting wheat
20.09.2018 - 10:37

Pesticides: science mustn't be guided by politics

In a draft Report released today, the EPP Group insists on a science-based approach towards pesticide authorisation. "We need to further...
pharmacy
13.09.2018 - 12:40

Dual Quality Products: what you see is what you should get

The European Parliament today proposed concrete measures to solve the problem of quality differences between products sold under the same brand and...
Copyright law, defending consumers, State of the Union, Future of Europe
13.09.2018 - 12:30

Copyright law, defending consumers, State of the Union, Future of Europe

The European Parliament has approved legislation to help online content creators earn their fair share through a stronger EU copyright law. It also...
Business woman working on desk
12.09.2018 - 13:31

EPP Group leads EP in protection of independent journalism

The European Parliament stands behind journalists, creators, authors, publishers and legitimate copyright right-holders. This is the outcome of today...

Highlights of the week

10.09.2018 - 14.09.2018
Manfred Weber, Chairman of the EPP Group

The State of the Union

Members of the European Parliament and the President of the European Commission Jean-Claude Juncker will hold the annual State of the Union debate on...
Protect creativity without creating borders

Copyright in the Digital Single Market

On Tuesday 11 September, members of the European Parliament will hold a debate on the long-awaited copyright reform. The file has returned to the...
Woman checking food labelling

Dual quality products: what you see is what you should get

The European Parliament will vote on Thursday on a Report that will propose measures to solve the problem of quality differences between products...
The Narnia Project