By EIOPA

THE EUROPEAN COMMISSION,

Having regard to the Treaty on the Functioning of the European Union, Having regard to Regulation (EU) 2019/1238 of the European Parliament and of the Council of 20 June 2019 on a pan-European Personal Pension Product (PEPP)1 , and in particular the fourth subparagraph of Article 28(5), third subparagraph of Article 30(2), third subparagraph of Article 33(3), second subparagraph of Article 36(2), third subparagraph of Article 37(2), third subparagraph of Article 45(3) and the third subparagraph of Article 46(3) thereof, Whereas:

(1) The regulation of the pan-European Personal Pension Product (‘PEPP’) has been guided by the objective to achieve a high quality, safe, transparent and simple personal pension product and it sets out clear and enforceable eligibility criteria whilst leaving sufficient room for innovation to reach superior pension outcomes through tailored investment strategies and risk-mitigation techniques. To ensure an effective and efficient implementation of the requirements of Regulation (EU) 2019/1238 and of this Regulation, the development of the policies followed a strong inclusive approach, building on the expertise of the European Securities and Markets Authority, the European Banking Authority, the European Central Bank, as well as of expert practitioners on personal pension products, to allow for industry testing, and of academics active in the field of pensions

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