The second Public Event on Personal Pensions was held on 15 April 2014 at the National Bank of Slovakia in Bratislava.
The European Commission requested EIOPA to provide technical advice about the appropriate prudential regulations and consumer protection measures to bring about a Single Market for personal pensions in Europe. In February 2014 EIOPA published its Preliminary Report to the European Commission: “Towards an EU-single market for personal pensions”, capitalising on the invaluable contributions of stakeholders received through an EU-wide consultation and the first EIOPA Public event on personal pensions, both held in 2013. This systematic and inclusive consultation strategy of EIOPA has proved highly instrumental in the assessment of the adequate framework to harmonise the market without prejudicing to personal pension plan holders. The Preliminary report clarifies issues and options for creating single market for personal pensions and will be followed by detailed advice on possible future legislation in this field.
Building on last year’s fruitful discussions, this year’s public event aimed to give participants an
- Overview on the current concerns and main challenges for personal pensions,
- Opportunity to contribute to future EIOPA work in this field.
After an opening session on strategic considerations, the second panel discussion focused on consumer protection issues, whereas discussions on hot topics such as taxation, product standardisation, and contract law rounded up the day. Issues posed by the current impediments to a Single Market in the field of personal pensions were examined in the light of the concrete proposals of the Task Force. The findings of the Preliminary Report occupied the foreground and enriched the debates. Moreover, the event was a unique opportunity to hear the experts judgements on concerns raised in the almost thirty submissions. Indeed, participants could participate in the discussion and share their views on how to create a Single Market in this particular field.