Pension provision inadequacy will remain a major challenge for Member States and European citizens, particularly in light of Europe’s ageing population and the impact of the Covid-19 crisis on governments’ debt levels. Promoting retirement savings should become a major priority for policymakers, at the national and European level. This would not only support the future financial well-being of citizens but also contribute to strengthening of the Capital Markets Union.
EFAMA strongly supported the Commission’s proposal to create a pan-European Personal Pension Product (PEPP). We will evaluate the development of the market in the coming years and, if necessary, develop proposals for amending the proposed regulation. EFAMA will take part in any relevant consultations on pension issues, to ensure the position of our industry is taken into account. We’ll continue raising public awareness on the importance of saving for retirement, including by playing an active role in organising the European Retirement Week. Finally, we will keep a close eye on the IORP Directive and contribute to its review.
European Statistics Q4 2020 | 2020 Trends | Inflows into UCITS and AIFs bring European fund assets to an all-time high
The European Fund and Asset Management Association (EFAMA) has today published its Investment Fund Industry Fact Sheet for Q4 of 2020, together with an overview of the full year.
The main developments through the quarter are as follows:
The European Fund and Asset Management Association (EFAMA) regrets that the European Commission has decided to endorse EIOPAs proposal to include the initial cost of advice under the 1% fee cap for the Basic PEPP (pan-European Personal Pension Product).
The PEPP has the potential to play an important role in delivering retirement savings to millions of European savers, while at the same time contributing to the success of the CMU through the creation of new pools of long-term capital that can help finance the European economy.
The European Fund and Asset Management Association (EFAMA) has published today the 12th edition of its Asset Management Report*. The report aims to provide a unique and comprehensive set of facts and figures on the state of the industry at the end of 2018 but also to highlight the fundamental role of asset managers in the financial system and wider economy.
The report aims to provide a unique and comprehensive set of facts and figures on the state of the industry at the end of 2018 but also to highlight the fundamental role of asset managers in the financial system and wider economy.
Q #1 Why is the launch of the PEPP of such strategic importance for the funds
industry and overall success of the Capital Markets Union (CMU)?
Above all, the PEPP is a recognition of the importance of individual pension savings at a time
in which European governments have become increasingly fiscally constrained. This has
consequences both for state pension provision and for wider investment in the European
This publication precedes the European Commission's forthcoming new Action Plan on the Capital Markets Union (CMU). It includes ten concrete policy recommendations to help advance the CMU, including the introduction of a Key Performance Indicator (KPI) to monitor progress in household participation in capital markets.