Europe: the Pan-European Pension Product (PEPP)

The Pan-European Personal Pension Product (PEPP) is an EU-wide framework for a voluntary personal pension that you can keep as you move between member states.

The problem it solves

Europeans increasingly live and work across borders, but traditional pensions are national and don't travel well. PEPP aims to provide a portable, standardised personal pension that follows you.

Key features

• Portability: maintain the same pension across EU countries, with sub-accounts for different states where possible.
• Transparency and cost caps: a Basic PEPP option comes with a capped fee, keeping costs low.
• Standard disclosures so products are easy to compare.
• Long-term, retirement-focused with a choice of investment options and some capital-protection features.

Things to note

• Availability and tax treatment vary by country — tax incentives for pensions are set nationally, and PEPP adoption differs across the EU.
• It complements, rather than replaces, national state and workplace pensions.

Key takeaway

PEPP is a promising, portable, low-cost personal-pension option, especially for mobile European workers who want a single retirement product across borders. Check availability and the tax rules in your specific country before committing.