13 Amendments of Barbara KAPPEL related to 2017/0143(COD)
Amendment 187 #
Proposal for a regulation
Recital 1 a (new)
Recital 1 a (new)
(1a) Whereas low investment levels are not necessarily bad, as it can signal low willingness to invest because of limited trust in the market or available investment opportunities, and as it can signal different time preferences of savers and investors;
Amendment 214 #
Proposal for a regulation
Recital 4
Recital 4
(4) The Capital Markets Union (CMU) willcould help mobilise capital in Europe and channel it to all companies, including small and medium enterprises, infrastructure and long term sustainable projects that need it to expand and create jobsdevelop and innovate. One of the main objectives of the CMU is to increase investment and choices for retail investors by putting European savings to better use.
Amendment 221 #
Proposal for a regulation
Recital 10
Recital 10
(10) Among personal pension products, the development of a PEPP willcould contribute to increasing choices for retirement saving and establish an EU market for PEPP providers. It willshould provide households with better options to meet their retirement goals.
Amendment 225 #
Proposal for a regulation
Recital 11
Recital 11
(11) A legislative framework for a PEPP willcould lay the foundations for a successful market in affordable and voluntary retirement-related investments that can be managed on a pan-European scale. By complementing the existing pension products and schemes, it willshould contribute to meeting the needs of people wishing to enhance the adequacy of their retirement savings, addressing the demographical challenge and providing a powerful new source of private capital for long-term investment. This framework will not replace or harmonise existing national personal pension schemes.
Amendment 227 #
Proposal for a regulation
Recital 12
Recital 12
(12) The Regulation harmonises a set of core features for the PEPP, which concern key elements such as distribution, investment policy, provider switching, or cross-border provision and portability. The harmonisation of these core features willshould improve the level playing field for personal pension providers at large and help boost the completion of the CMU and the integration of the internal market for personal pensions. It will lead to the creation of a largely standardised pan- European product, available in all Member States, empowering consumers to make full use of the internal market by transferring their pension rights abroad and offering a broader choice between different types of providers, including in a cross- border way. As a result of fewer barriers to the provision of pension services across borders, a pan- European Personal Pension Product willshould increase competition between providers on a pan-European basis and create economies of scale that should benefit savers.
Amendment 254 #
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 each Member State 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. If a PEPP saver moves to another Member State and if no compartment for the Member State is available, the PEPP provider should make it possible for the PEPP saver to switch for an amount of maximum € 150 to another PEPP provider which provides a compartment for that Member State.
Amendment 511 #
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, eEach PEPP shall offer national compartments for allwithin one or more Member States upon request addressed to the PEPP provider.
Amendment 523 #
Proposal for a regulation
Article 14 – paragraph 1
Article 14 – paragraph 1
Without prejudice to the deadline under Article 13(3), PEPP providers shall ensure that within each individual PEPP account a new compartment could be opened, corresponding to the legal requirements and conditions for using incentives fixed at national level for the PEPP by the Member State to which the PEPP saver moves. Where the PEPP saver changes his domicile by moving to a Member State for which the PEPP provider is not able to offer a compartment, the PEPP saver shall be able to switch PEPP provider for an amount of maximum € 150 upon his change of domicile.
Amendment 689 #
Proposal for a regulation
Article 28 – paragraph 1 – point e
Article 28 – paragraph 1 – point e
(e) aA breakdown of the costs deducted by the PEPP provider at least over the last 12 months, indicating the costs of administration, costs of safekeeping of assets, costs related to portfolio explicit transactions and other costs, as well as an estimation of the impact of the costs on the final benefits.
Amendment 767 #
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 a risk-mitigation technique that results in a safeon the basis of a risk-mitigation technique that the PEPP saver will be able to recoup the invested capital. A mechanism which guarantees full capital protection shall not be a mandatory feature of the default investment option. Each provider is free to choose the type of risk-mitigation technique that will be included within the default investment strategyoption.
Amendment 845 #
Proposal for a regulation
Article 48 – paragraph 3
Article 48 – paragraph 3
3. The totalrespective fees and charges applied by the transferring PEPP provider to the PEPP saver for the closure of the PEPP account held with it shall be limited to no more than 1.5 %€ 150 of the positive balance to be transferred to the receiving PEPP provider.
Amendment 859 #
Proposal for a regulation
Article 52 – paragraph 1 – introductory part
Article 52 – paragraph 1 – introductory part
1. By taking into account the impact on the availability of national tax incentives, PEPP providers may make available to PEPP savers one or more of the following forms of out-payments:
Amendment 877 #
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 duringat the end of the accumulation phase, if applicable.