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Pan-European personal pension product (PEPP)

The pan-European personal pension product (PEPP) is a new EU-wide voluntary personal pension scheme offering citizens an additional option to save for retirement. Supervised by national supervisory authorities and EIOPA, the scheme is intended to:

  • help address challenges resulting from ageing of the European population;
  • support labour mobility across the EU;
  • to enable the portability of pension savings across EU borders.

Pan-European personal pension products (PEPPs) are regulated by Regulation (EU) 2019/1238 of the European Parliament and of the Council of 20 June 2019 on a pan-European Personal Pension Product (PEPP), which entered into force on 14 August 2019. On December 18, 2020, a supplementary legal norm was adopted: Commission Delegated Regulation (EU) 2021/473 supplementing Regulation (EU) 2019/1238 of the European Parliament and the Council with regard to regulatory technical standards specifying the requirements on information documents, on the cost and fees including in the cost cap and on risk- mitigation techniques for the pan – European Personal Pension Product (Text with EEA relevance).

National legislation specifying in more details some provisions of the regulation at the national level, regulating in particular the conditions regarding the savings phase according to Article 47 and the payment phase accoring to Article 57, is adopted as Act No 129/2022 Coll. on a pan-European Personal Pension Product (PEPP) and on the amendment of certain laws. The information obligations that PEPP providers are obliged to fulfill towards the National Bank of Slovakia are specified in more detail in the Decree of the National Bank of Slovakia.