Insurance Watchdog Sets Out Oversight For Pan-EU Pensions

Law360, London (December 2, 2019, 1:36 PM GMT) -- Europe’s insurance watchdog published proposals on Monday setting out how it will regulate bloc-wide pensions once the products are introduced in 2021, allowing retirement savers to put money into a single plan even if they move across the bloc.

The European Insurance and Occupational Pensions Authority said that insurers, banks and occupational pension funds must provide information documents to retirement savers before allowing them to take out pan-European pension products. The data, which they will be required to provide annually, should help the consumer track the performance of their pension and be tailored to suit their objectives.

The information must also be set...

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