Activities of Heinz K. BECKER related to 2017/0143(COD)
Plenary speeches (1)
Pan-European Personal Pension Product (debate) DE
Amendments (7)
Amendment 77 #
Proposal for a regulation
Recital 11
Recital 11
(11) A legislative framework for a PEPP will lay the foundations for a successful market in affordable and voluntary retirement-related investments that can be managed on a pan-European scale. By complementing the existing pension products and schemes, it will contribute to meeting the needs of people wishing to enhance the adequacy of their retirement savings, addressing the demographical challenge and the pension gap, and providing a powerful new source of private capital for long-term investment. This framework will not replace or harmonise existing national personal products or occupational pension schemes.
Amendment 84 #
Proposal for a regulation
Recital 14 a (new)
Recital 14 a (new)
(14a) The way in which institutions for occupational retirement provision (IORPs) are organised and regulated varies significantly between Member States. In some Member States these institutions are only allowed to carry out occupational pension activities whereas in other Member States they are allowed to carry out occupational and personal pension activities. This has not only lead to different organisational structures of IORPs but is also accompanied by different regulation on national level. In particular, prudential regulation of IORPs which carry out occupational and personal pension activities is broader than of those IORPs which only carry out occupational pension activities. In order not to jeopardise financial stability and to take into account the different organisational structure and regulation, only those IORPs should be allowed to provide PEPPs which, pursuant to national law, are authorised to provide personal pension products. Moreover and to further safeguard financial stability, all assets and liabilities corresponding to PEPP provision business should be ring- fenced, managed and organised separately from the other activities of occupational retirement provision, without any possibility of transfer for the provider.
Amendment 313 #
Proposal for a regulation
Article 17 – paragraph 2 – introductory part
Article 17 – paragraph 2 – introductory part
2. The information under paragraph 1 shall be filed electronically in a central database held with the national supervisory authority within one month of opeEIOPA within one month of opening the new compartment. The database shall be accessible to the national competent authorities, who shall automatically receive information concerning the newlocal compartment ands in the case of any changes. The database shall contain at least:
Amendment 368 #
Proposal for a regulation
Article 23 a (new)
Article 23 a (new)
Article 23a Before a contract is concluded, PEPP providers shall give PEPP savers an overview of likely asset performance over the term of the contract, including asset growth, in addition to all expected costs, and assuming an average inflation rate of 4% on which to base the overall calculation.
Amendment 369 #
Proposal for a regulation
Article 23 b (new)
Article 23 b (new)
Article 23b Section on costs: The likely direct and indirect costs associated with a PEPP investment, aggregated and expressed as a percentage of the invested assets in order to ensure direct comparability.
Amendment 444 #
Proposal for a regulation
Article 37 – paragraph 1 – point 1 (new)
Article 37 – paragraph 1 – point 1 (new)
(1) When a capital guarantee is provided, it should be a long-term guarantee provided at the end of accumulation period and should not apply on investment switches in between.
Amendment 463 #
Proposal for a regulation
Article 46 – paragraph 3 – introductory part
Article 46 – paragraph 3 – introductory part
3. Within twofive working days from receipt of the authorisationrequest referred to in paragraph 2, the receiving PEPP provider shall request the transferring PEPP provider to carry out the following tasks, if provided for in the PEPP saver’s authorisation:request: (a) transmit to the receiving PEPP provider and, if specifically requested by the PEPP saver, to the PEPP saver, a list of the existing amounts that are being switched; (b) transfer any remaining positive balance to the PEPP account held with the receiving PEPP provider on from the date specified by the PEPP saver; and (c) close the PEPP account held with the transferring PEPP provider from the date specified by the PEPP saver.