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PEPP Regulation In force since 20 June 2019

REGULATION (EU) 2019/1238 OF THE EUROPEAN PARLIAMENT AND OF THE COUNCIL of 20 June 2019 on a pan-European Personal Pension Product (PEPP)
32019R1238 · official text on EUR-Lex

This English text is a careful, terminology-researched translation prepared by eucite.com — not an official government translation. The German original linked above is the legally authoritative text.

Articles

Chapter I GENERAL PROVISIONS

• Article 1 — Subject matter
• Article 2 — Definitions
• Article 3 — Applicable rules
• Article 4 — PEPP contract

Chapter II REGISTRATION

• Article 5 — Registration
• Article 6 — Application for registration of a PEPP
• Article 7 — Registration of a PEPP
• Article 8 — Conditions for deregistration of a PEPP
• Article 9 — Designation
• Article 10 — Distribution of PEPPs
• Article 11 — Prudential regime applicable to different types of providers
• Article 12 — Publication of national provisions
• Article 13 — Central public register

Chapter III CROSS-BORDER PROVISION AND PORTABILITY OF PEPP

Section I Freedom to provide services and freedom of establishment

• Article 14 — Exercise of the freedom to provide services and freedom of establishment by PEPP providers and PEPP distributors
• Article 15 — Exercise of the freedom to provide services by IORPs and EU AIFM
• Article 16 — Powers of the competent authorities of the host Member State

Section II Portability

• Article 17 — The portability service
• Article 18 — Provision of the portability service
• Article 19 — Sub-accounts of the PEPP
• Article 20 — Opening of a new sub-account
• Article 21 — Provision of information on portability to the competent authorities

Chapter IV DISTRIBUTION AND INFORMATION REQUIREMENTS

Section I General provisions

• Article 22 — General principle
• Article 23 — Distribution regime applicable to different types of PEPP providers and PEPP distributors
• Article 24 — Electronic distribution and other durable mediums
• Article 25 — Product oversight and governance requirements

Section II Pre-contractual information

• Article 26 — PEPP KID
• Article 27 — Language of the PEPP KID
• Article 28 — Content of the PEPP KID
• Article 29 — Marketing materials
• Article 30 — Revision of the PEPP KID
• Article 31 — Civil liabilities
• Article 32 — PEPP contracts which cover biometric risks
• Article 33 — Provision of the PEPP KID

Section III Advice

• Article 34 — Specification of demands and needs and provision of advice

Section IV Information during the term of the contract

• Article 35 — General provisions
• Article 36 — PEPP Benefit Statement
• Article 37 — Supplementary information
• Article 38 — Information to be given to PEPP savers during the pre-retirement phase and to PEPP beneficiaries during the decumulation phase
• Article 39 — Information to be given on request to PEPP savers and PEPP beneficiaries

Section V Reporting to national authorities

• Article 40 — General provisions

Chapter V ACCUMULATION PHASE

Section I Investment rules for PEPP providers

• Article 41 — Investment rules

Section II Investment options for PEPP savers

• Article 42 — General provisions
• Article 43 — Choice of investment option by the PEPP saver
• Article 44 — Conditions for modification of the chosen investment option
• Article 45 — The Basic PEPP
• Article 46 — Risk-mitigation techniques

Section III Other aspects of the accumulation phase

• Article 47 — Conditions related to the accumulation phase

Chapter VI INVESTOR PROTECTION

• Article 48 — Depositary
• Article 49 — Coverage of biometric risks
• Article 50 — Complaints
• Article 51 — Out-of-court redress

Chapter VII SWITCHING OF PEPP PROVIDERS

• Article 52 — Provision of the switching service
• Article 53 — The switching service
• Article 54 — Fees and charges connected with the switching service
• Article 55 — Protection of PEPP savers against financial loss
• Article 56 — Information about the switching service

Chapter VIII DECUMULATION PHASE

• Article 57 — Conditions related to the decumulation phase
• Article 58 — Forms of out-payments
• Article 59 — Modifications of the forms of out-payments
• Article 60 — Retirement planning and advice on out-payments

Chapter IX SUPERVISION

• Article 61 — Supervision by the competent authorities and monitoring by EIOPA
• Article 62 — Powers of competent authorities
• Article 63 — Product intervention powers of competent authorities
• Article 64 — Facilitation and coordination
• Article 65 — Product intervention powers of EIOPA
• Article 66 — Cooperation and consistency

Chapter X PENALTIES

• Article 67 — Administrative penalties and other measures
• Article 68 — Exercise of the power to impose administrative penalties and other measures
• Article 69 — Publication of administrative penalties and other measures
• Article 70 — Duty to submit information to EIOPA in relation to administrative penalties and other measures

Chapter XI FINAL PROVISIONS

• Article 71 — Processing of personal data
• Article 72 — Exercise of the delegation
• Article 73 — Evaluation and report
• Article 74 — Entry into force and application