Regulatory Alerts2021-03-26
Added · Updated
Circular on the implementation of Regulation (EU) 2019/1238 on a pan-European Personal Pension Product (PEPP)
The MFSA notifies market participants of the salient features of the PEPP Regulation, which commences application on 22 March 2022. Eligible PEPP providers include credit institutions, insurance undertakings, IORPs, investment firms, management companies, and EU AIFMs registered with the MFSA and EIOPA. The product allows up to six investment options, including a Basic PEPP with costs capped at 1% of accumulated capital per year, and mandates Key Information Documents, annual benefit statements, and cross-border portability rights. Providers must submit annual quantitative reports to the MFSA, and the regulator is conducting a survey on market interest with a deadline of 23 April 2021.
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