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Personal pension products

The pan-European personal pension product (PEPP).


Personal pensions (also known as “private pensions”) are long-term savings products that individuals contribute to on a voluntary basis, complementing state and workplace pensions. They have a role to play in linking long-term savers with long-term investment opportunities.

The pan-European personal pension product (PEPP) is a voluntary personal pension scheme that will complement existing public and occupational pension systems, as well as national private pension schemes.

Pan-European personal pension products (PEPPs) are regulated by the Regulation 2019/1238, also known as the PEPP Regulation.

These rules aim to give savers more choice and provide them with more competitive personal pension products when saving for retirement, while enjoying strong consumer protection. PEPPs could be offered across the EU by a broad range of financial providers such as insurance companies, asset managers, banks, certain investment firms and certain occupational pension funds.

The PEPP Regulation establishes the legal foundation for a pan-European personal pension market, by ensuring standardisation of the core product features, such as: transparency requirements, investment rules, switching right and type of investment options.