37 Amendments of Anne SANDER related to 2017/0143(COD)
Amendment 96 #
Proposal for a regulation
Recital 21
Recital 21
(21) In order to allow a smooth transition for PEPP providers, the obligation of providing PEPPs comprising compartments for eachten Member States will apply three years after the entry into force of this Regulation. However, upon launching a PEPP, the provider should provide information on which national compartments are immediately available, in order to avoid a possible misleading of consumers.
Amendment 134 #
Proposal for a regulation
Recital 39
Recital 39
(39) The default investment option should allow the PEPP saver to recoup the invested capitalseek to ensure capital protection for the PEPP saver either by way of capital guarantee or the application of a life- cycle investment strategy to the PEPP saver's assets. The PEPP providers could in addition include an inflation indexation mechanism to at least partly cover inflation.
Amendment 200 #
Proposal for a regulation
Article 2 – paragraph 1 – point 19 a (new)
Article 2 – paragraph 1 – point 19 a (new)
(19a) "home Member State of the PEPP distributor" means the Member State in which the PEPP distributor has its registered office;
Amendment 201 #
Proposal for a regulation
Article 2 – paragraph 1 – point 19 b (new)
Article 2 – paragraph 1 – point 19 b (new)
(19b) "host Member State of the PEPP distributor" means a Member State, other than the home Member State, in which a PEPP distributor distributes PEPPs;
Amendment 213 #
Proposal for a regulation
Article 2 – paragraph 1 – point 28 a (new)
Article 2 – paragraph 1 – point 28 a (new)
(28a) “Life-cycle investment strategy” means a strategy which aims at adjusting a portfolio’s risk profile from the investment date until the investor perceives out-payments after retirement age, by progressively reducing its overall risk exposure over time.
Amendment 216 #
Proposal for a regulation
Article 2 – paragraph 1 – point 28 b (new)
Article 2 – paragraph 1 – point 28 b (new)
(28b) “partnerships” means cooperation between PEPP providers to offer compartments in different Member States, in the view of portability service as referred to in Article 12. Liability in these partnerships remains in all cases with the primary provider.
Amendment 235 #
Proposal for a regulation
Article 5 – paragraph 1 – point c a (new)
Article 5 – paragraph 1 – point c a (new)
(ca) institutions for occupational retirement provision (IORP) registered or authorised in accordance with Directive 2016/2341/EU of the European Parliament and of the Council45
Amendment 253 #
Proposal for a regulation
Recital 21
Recital 21
(21) In order to allow a smooth transition for PEPP providers, the obligation of providing PEPPs comprising compartments for eachten Member States will apply three years after the entry into force of this Regulation. However, upon launching a PEPP, the provider should provide information on which national compartments are immediately available, in order to avoid a possible misleading of consumers.
Amendment 295 #
Proposal for a regulation
Article 13 – paragraph 3
Article 13 – paragraph 3
3. Three years at the latest after the entry into application of this Regulation, each PEPP shall offer national compartments for allten Member States upon request addressed to the PEPP provider.
Amendment 297 #
Proposal for a regulation
Recital 39
Recital 39
(39) The default investment option should allow the PEPP saver to recoup the invested capitalseek to ensure capital protection for the PEPP saver either by way of capital guarantee or the application of a life- cycle investment strategy to the PEPP saver’s assets. The PEPP providers could in addition include an inflation indexation mechanism to at least partly cover inflation.
Amendment 311 #
Proposal for a regulation
Article 17 – paragraph 1
Article 17 – paragraph 1
1. All contractual arrangements for providing the portability service shall be notified by the PEPP provider to the respective national authority exercising prudential supervision over it and to EIOPA.
Amendment 368 #
Proposal for a regulation
Article 2 – paragraph 1 – point 19 a (new)
Article 2 – paragraph 1 – point 19 a (new)
(19a) “home Member State of the PEPP distributor” means the Member State in which the PEPP distributor has its registered office;
Amendment 369 #
Proposal for a regulation
Article 2 – paragraph 1 – point 19 b (new)
Article 2 – paragraph 1 – point 19 b (new)
(19b) “host Member State of the PEPP distributor” means a Member State, other than the home Member State, in which a PEPP distributor distributes PEPPs;
Amendment 378 #
Proposal for a regulation
Article 25 – paragraph 2
Article 25 – paragraph 2
2. Where advice isAdvice shall be provided prior to the conclusion of any specific contract, t. The PEPP provider or distributor referred to in Article 19(c) of this Regulation shall provide the PEPP saver with a personalised recommendation explaining why a particular PEPP would best meet the PEPP saver’s demands and needs.
Amendment 380 #
Proposal for a regulation
Article 2 – paragraph 1 – point 28 a (new)
Article 2 – paragraph 1 – point 28 a (new)
(28a) “Life-cycle investment strategy” means a strategy which aims at adjusting a portfolio’s risk profile from the investment date until the investor perceives out-payments after retirement age, by progressively reducing its overall risk exposure over time.
Amendment 380 #
Proposal for a regulation
Article 25 – paragraph 3
Article 25 – paragraph 3
3. When providing advice on PEPPsithout prejudice to the obligation set out in the preceding paragraph, the PEPP provider or distributor referred to in Article 19(c) of this Regulation shall comply with the applicable national laws giving effect to the rules set out in Article 25(2) of Directive 2014/65/EU and with any directly applicable Union legislation adopted under Article 25(8) of that Directive relating to those rules.
Amendment 383 #
Proposal for a regulation
Article 26
Article 26
Amendment 410 #
Proposal for a regulation
Article 5 – paragraph 1 – point c
Article 5 – paragraph 1 – point c
(c) institutions for occupational retirement provision (IORP) registered or authorised in accordance with Directive 2016/2341/EU of the European Parliament and of the Council45 ; __________________ 45 Directive 2016/2341/EU of the European Parliament and of the Council of 14 December 2016 on the activities and supervision of institutions for occupational retirement provision (IORPs) (recast) (OJ L 354, 23.12.2016, p. 37).
Amendment 442 #
Proposal for a regulation
Article 37 – paragraph 1
Article 37 – paragraph 1
1. The default investment option shall ensure capital protection for the PEPP saver, on the basis of abe a simple and safe product that can be easily acquired, including through digital channels, in each Member State. The risk- mitigation technique that results in a safes can take the form of capital protection or de-risking investment strategyies.
Amendment 445 #
Proposal for a regulation
Article 37 – paragraph 2
Article 37 – paragraph 2
2. 2. Capital protection shall allow the PEPP saver to recoup the capital investedbe achieved by either one of the following risk-mitigation techniques: (i) the PEPP provider offers a capital guarantee allowing the PEPP saver to recoup the capital invested; (ii) the assets of the PEPP saver are managed using a life-cycle investment strategy.
Amendment 451 #
Proposal for a regulation
Article 39 – paragraph 1 – point a
Article 39 – paragraph 1 – point a
(a) the risk-mitigation technique to ensure capital protection under the defaultunder the default option which seek to ensure capital protection either by providing capital guarantee or lice-cycling investment option;strategy:
Amendment 490 #
Proposal for a regulation
Article 52 – paragraph 2
Article 52 – paragraph 2
2. The choice of the form of out- payments for the decumulation phase shall be exercised by PEPP savers upon conclusion of a PEPP contract and can be changed once every five years thereafter and during the last year of the accumulation phase, if applicabl. This possibility to change should be free of charge.
Amendment 491 #
Proposal for a regulation
Article 52 – paragraph 2 a (new)
Article 52 – paragraph 2 a (new)
2a. Where Member States have not imposed a mandatory link between reaching retirement age and the start of the decumulation phase, PEPP providers shall give PEPP savers the option to defer the start of the decumulation phase to a date after they have reached retirement age.
Amendment 493 #
Proposal for a regulation
Article 52 – paragraph 2 b (new)
Article 52 – paragraph 2 b (new)
2b. Where, upon the start of the decumulation phase, the overall value of the assets accumulated in a PEPP account does not exceed an amount to be laid down and revised every year by each Member State, the PEPP saver shall have the right to liquidate the PEPP account and receive a lump sum payment.
Amendment 494 #
Proposal for a regulation
Article 53 – paragraph 1
Article 53 – paragraph 1
1. The competent authority of the home Member State of the PEPP provider shall supervise compliance with this Regulation on an ongoing basis. It shall also be responsible for supervising compliance with the obligations set out in the rules or instruments of incorporation of the PEPP provider, and the adequacy of its arrangements and organisation with the tasks to be fulfilled when providing a PEPP. By derogation to the first subparagraph, compliance by the PEPP provider and the PEPP distributor with Chapter IV of this Regulation shall be supervised on an ongoing basis by the competent authority of the host Member State of the PEPP provider and the PEPP distributor.
Amendment 505 #
Proposal for a regulation
Article 13 – paragraph 3
Article 13 – paragraph 3
3. Three years at the latest after the entry into application of this Regulation, each PEPP shall offer national compartments for allten Member States upon request addressed to the PEPP provider.
Amendment 543 #
Proposal for a regulation
Article 17 – paragraph 1
Article 17 – paragraph 1
1. All contractual arrangements for providing the portability service shall be notified by the PEPP provider to the respective national authority exercising prudential supervision over it and to EIOPA.
Amendment 649 #
Proposal for a regulation
Article 25 – paragraph 2
Article 25 – paragraph 2
2. Where advice isAdvice shall be provided prior to the conclusion of any specific contract, t. The PEPP provider or distributor referred to in Article 19(c) of this Regulation shall provide the PEPP saver with a personalised recommendation explaining why a particular PEPP would best meet the PEPP savers’s demands and needs.
Amendment 650 #
Proposal for a regulation
Article 25 – paragraph 3
Article 25 – paragraph 3
3. When providing advice on PEPPsithout prejudice to the obligation set out in the preceding paragraph, the PEPP provider or distributor referred to in Article 19(c) of this Regulation shall comply with the applicable national laws giving effect to the rules set out in Article 25(2) of Directive 2014/65/EU and with any directly applicable Union legislation adopted under Article 25(8) of that Directive relating to those rules.
Amendment 661 #
Proposal for a regulation
Article 26
Article 26
Amendment 768 #
Proposal for a regulation
Article 37 – paragraph 1
Article 37 – paragraph 1
1. The default investment option shall ensure capital protection for the PEPP saver, on the basis of abe a simple and safe product that can be easily acquired, including through digital channels, in each Member State. The risk- mitigation technique that results in a safes can take the form of capital protection or de-risking investment strategyies.
Amendment 778 #
Proposal for a regulation
Article 37 – paragraph 2
Article 37 – paragraph 2
2. Capital protection shall allow the PEPP saver to recoup the capital investedbe achieved by either one of the following risk- mitigation techniques: (i) the PEPP provider offers a capital guarantee allowing the PEPP saver to recoup the capital invested; (ii) the assets of the PEPP saver are managed using a life-cycle investment strategy.
Amendment 803 #
Proposal for a regulation
Article 39 – paragraph 1 – point a
Article 39 – paragraph 1 – point a
(a) the risk-mitigation technique to ensure capital protection under the defaultunder the default option which seeks to ensure capital protection either by providing a capital guarantee or by a life-cycling investment option;strategy:
Amendment 868 #
Proposal for a regulation
Article 52 – paragraph 1 a (new)
Article 52 – paragraph 1 a (new)
1a. Where Member States have not imposed a mandatory link between reaching retirement age and the start of the decumulation phase, PEPP providers shall give PEPP savers the option to defer the start of the decumulation phase to a date after they have reached retirement age.
Amendment 879 #
Proposal for a regulation
Article 52 – paragraph 2
Article 52 – paragraph 2
2. The choice of the form of out- payments for the decumulation phase shall be exercised by PEPP savers upon conclusion of a PEPP contract and can be changed once every five years thereafter and during the last year of the accumulation phase, if applicabl. This possibility to change should be free of charge.
Amendment 883 #
Proposal for a regulation
Article 52 – paragraph 2 a (new)
Article 52 – paragraph 2 a (new)
2a. Where, upon the start of the decumulation phase, the overall value of the assets accumulated in a PEPP account does not exceed an amount to be laid down and revised every year by each Member State, the PEPP saver shall have the right to liquidate the PEPP account and receive a lump sum payment.
Amendment 889 #
Proposal for a regulation
Article 53 – paragraph 1
Article 53 – paragraph 1
1. The competent authority of the home Member State of the PEPP provider shall supervise compliance with this Regulation on an ongoing basis. It shall also be responsible for supervising compliance with the obligations set out in the rules or instruments of incorporation of the PEPP provider, and the adequacy of its arrangements and organisation with the tasks to be fulfilled when providing a PEPP. By derogation to the first subparagraph, compliance by the PEPP provider and the PEPP distributor with Chapter IV of this Regulation shall be supervised on an ongoing basis by the competent authority of the host Member State of the PEPP provider and the PEPP distributor.