The European Insurance and Occupational Pensions Authority (EIOPA) has launched a follow-up consultation to firm up plans to develop a single market for personal pension products (PPPs).
The consultation paper on EIOPA's advice on the development of an EU Single Market for personal pension products (PPP) aims to build on the work of a previous consultation which closed in October last year.
Developing PPPs is part of the European Union's (EU) wider desire to establish a Capital Markets Union, which includes unlocking investment in infrastructure companies across the continent.
In the consultation document EIOPA said it wanted to see how the draft advice from the previous consultation "could be applied to PPPs in general", and if possible adjustments were needed.
EIOPA added it was remarkable personal pensions were marked last in the European Commission's Market Performance Index in 2013 compared to other products and trust in them had to be restored.
Pensions and Lifetime Savings Association (PLSA) EU and international lead James Walsh (pictured above) added: "This [process] has been going on for a long time. The overall consultation is well known. The big question however is how this system would work across different tax systems?"
The consultation ends on 26 April this year.
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