2018/2002(INL) | [ParlTrack]

Awaiting committee decision

2018/2002(INL) Tax treatment of pension products, including the pan-European personal pension product

Role	Committee	Rapporteur	Shadows
Lead	ECON	IN 'T VELD Sophia (ALDE)	HAYES Brian (EPP), SORU Renato (S&D), FOX Ashley (ECR), EICKHOUT Bas (Verts/ALE), ANNEMANS Gerolf (ENF)

Lead committee dossier: ECON/8/11458
Legal Basis RoP 46

Subjects

2.50.05 Insurance, pension funds

Links

Activites

2018/09/03 Vote in committee, 1st reading/single reading
2018/01/18 Committee referral announced in Parliament, 1st reading/single reading

Documents

Amendments	Dossier
18	2018/2002(INL) 2018/04/30 ECON 18 amendments... Amendment 1 # Gerolf ANNEMANS, Bernard MONOT, Marco ZANNI Motion for a resolution Recital C C. whereas Member States have exclusive competence in the area of direct taxation, any Union proposal on the tax treatment of personal pension products will encroach upon this exclusive competence of the Member States; Amendment 10 # Ashley FOX Motion for a resolution Paragraph 2 – indent 1 ~~- granting the same tax relief to PEPP as the one granted to national personal pension products, even in cases where PEPP features do not fully match all the national criteria;~~deleted Amendment 11 # Bas EICKHOUT Motion for a resolution Paragraph 2 – indent 1 - granting the same tax relief to PEPP as the one granted to national personal pension products~~, even in cases where PEPP features do not fully match all the national criteria~~ where existing national tax relief policies have proven to be efficient and restricted to low income groups and groups with insufficient access to other collective retirement systems; Amendment 12 # Ashley FOX Motion for a resolution Paragraph 2 – indent 2 ~~- granting a specific tax relief to PEPP, harmonised at Union level, to be laid down in a multilateral tax agreement between Member States;~~deleted Amendment 13 # Bas EICKHOUT Motion for a resolution Paragraph 2 – indent 2 - granting a specific tax relief to PEPP~~, harmonised at Union level, to be laid down in a multilateral tax agreement between Member States~~ targeted at low income groups and groups with insufficient access to other collective retirement systems, harmonised at Union level; Amendment 14 # Brian HAYES Motion for a resolution Paragraph 2 – indent 3 ~~- granting a specific subsidy or premium to PEPP savers, in the form of a fixed amount or fixed percentage;~~deleted Amendment 15 # Ashley FOX Motion for a resolution Paragraph 2 – indent 3 ~~- granting a specific subsidy or premium to PEPP savers, in the form of a fixed amount or fixed percentage;~~deleted Amendment 16 # Bas EICKHOUT Motion for a resolution Paragraph 2 – indent 3 - granting a specific subsidy or premium to PEPP savers, in the form of a fixed amount or fixed percentage targeted at low income groups and groups with insufficient access to other collective retirement systems; Amendment 17 # Ashley FOX Motion for a resolution Paragraph 2 a (new) 2 a. Stresses that tax is a Member State competence and therefore any decision to grant special tax relief to the PEPP remains with each Member State; Amendment 18 # Ashley FOX Motion for a resolution Paragraph 2 b (new) 2 b. Recalls that Member States have the opportunity to take part in enhanced cooperation.; Amendment 2 # Bas EICKHOUT Motion for a resolution Recital D a (new) D a. whereas there is a lack of clear evidence regarding the effectiveness, public costs and benefits of tax incentives for private pension products and concerns in these regards have been expressed by the Commission in its 2009 publication 'Private pension schemes. Their role in adequate and sustainable pensions' and by the Social Protection Committee in its 2008 report 'Privately managed funded pension provision and their contribution to adequate and sustainable pensions'; Amendment 3 # Renato SORU, Pervenche BERÈS, Jeppe KOFOD Motion for a resolution Recital D a (new) D a. whereas the applicable tax regime for the PEPP should be the one of the Member State where a PEPP saver resides; Amendment 4 # Bas EICKHOUT Motion for a resolution Recital D b (new) D b. whereas serious concerns exist in relation to the redistributive effects and the often regressive nature of tax relief for private pension products; Amendment 5 # Bas EICKHOUT Motion for a resolution Recital D c (new) D c. whereas contributions to private pension products tend to be higher among higher earners and tax incentives therefore risk increasing inequality; Amendment 6 # Martin SCHIRDEWAN Motion for a resolution Paragraph 1 1. Calls on the Council~~, with a view to enhancing the uptake of the pan-European P~~ to take no steps in support of the Commission Recommendation on the tax treatment of personal Ppension Pproduct ~~(PEPP), to elaborate proposals regarding incentives for PEPP savers~~s, including the pan-European Personal Pension Product (C(2017)4393); Amendment 7 # Bas EICKHOUT Motion for a resolution Paragraph 1 1. Calls on the Council, with a view to enhancing the uptake of the pan-European Personal Pension Product (PEPP)~~, to elaborate proposals regarding incentives for PEPP saver~~ among low income groups and groups with insufficient access to other collective retirement systems, to elaborate proposals regarding incentives for PEPP savers, provided that these incentives are clearly targeted and monitored for their effectiveness and redistributive effects; Amendment 8 # Martin SCHIRDEWAN Motion for a resolution Paragraph 2 2. Suggests for the following approaches to be considered: - granting the same tax relief to PEPP as the one granted to national personal pension products, even in cases where PEPP features do not fully match all the national criteria; - granting a specific tax relief to PEPP, harmonised at Union level, to be laid down in a multilateral tax agreement between Member States; - granting a specific subsidy or premium to PEPP savers, in the form of a fixed amount or fixed percentage;deleted Amendment 9 # Bas EICKHOUT Motion for a resolution Paragraph 2 – indent -1 (new) -1 - analysing existing tax incentives for personal pension products and assessing their costs, effectiveness and redistributive effects and where applicable addressing inefficiencies and regressive effects; source: 620.853

Amendments

Dossier

2018/2002(INL)

2018/04/30 ECON 18 amendments...

Amendment 1 #

Gerolf ANNEMANS, Bernard MONOT, Marco ZANNI

Motion for a resolution
Recital C

C. whereas Member States have exclusive competence in the area of direct taxation, any Union proposal on the tax treatment of personal pension products will encroach upon this exclusive competence of the Member States;

Amendment 10 #

Ashley FOX

Motion for a resolution
Paragraph 2 – indent 1

~~- granting the same tax relief to PEPP as the one granted to national personal pension products, even in cases where PEPP features do not fully match all the national criteria;~~deleted

Amendment 11 #

Bas EICKHOUT

Motion for a resolution
Paragraph 2 – indent 1

- granting the same tax relief to PEPP as the one granted to national personal pension products~~, even in cases where PEPP features do not fully match all the national criteria~~ where existing national tax relief policies have proven to be efficient and restricted to low income groups and groups with insufficient access to other collective retirement systems;

Amendment 12 #

Ashley FOX

Motion for a resolution
Paragraph 2 – indent 2

~~- granting a specific tax relief to PEPP, harmonised at Union level, to be laid down in a multilateral tax agreement between Member States;~~deleted

Amendment 13 #

Bas EICKHOUT

Motion for a resolution
Paragraph 2 – indent 2

- granting a specific tax relief to PEPP~~, harmonised at Union level, to be laid down in a multilateral tax agreement between Member States~~ targeted at low income groups and groups with insufficient access to other collective retirement systems, harmonised at Union level;

Amendment 14 #

Brian HAYES

Motion for a resolution
Paragraph 2 – indent 3

~~- granting a specific subsidy or premium to PEPP savers, in the form of a fixed amount or fixed percentage;~~deleted

Amendment 15 #

Ashley FOX

Motion for a resolution
Paragraph 2 – indent 3

~~- granting a specific subsidy or premium to PEPP savers, in the form of a fixed amount or fixed percentage;~~deleted

Amendment 16 #

Bas EICKHOUT

Motion for a resolution
Paragraph 2 – indent 3

- granting a specific subsidy or premium to PEPP savers, in the form of a fixed amount or fixed percentage targeted at low income groups and groups with insufficient access to other collective retirement systems;

Amendment 17 #

Ashley FOX

Motion for a resolution
Paragraph 2 a (new)

2 a. Stresses that tax is a Member State competence and therefore any decision to grant special tax relief to the PEPP remains with each Member State;

Amendment 18 #

Ashley FOX

Motion for a resolution
Paragraph 2 b (new)

2 b. Recalls that Member States have the opportunity to take part in enhanced cooperation.;

Amendment 2 #

Bas EICKHOUT

Motion for a resolution
Recital D a (new)

D a. whereas there is a lack of clear evidence regarding the effectiveness, public costs and benefits of tax incentives for private pension products and concerns in these regards have been expressed by the Commission in its 2009 publication 'Private pension schemes. Their role in adequate and sustainable pensions' and by the Social Protection Committee in its 2008 report 'Privately managed funded pension provision and their contribution to adequate and sustainable pensions';

Amendment 3 #

Renato SORU, Pervenche BERÈS, Jeppe KOFOD

Motion for a resolution
Recital D a (new)

D a. whereas the applicable tax regime for the PEPP should be the one of the Member State where a PEPP saver resides;

Amendment 4 #

Bas EICKHOUT

Motion for a resolution
Recital D b (new)

D b. whereas serious concerns exist in relation to the redistributive effects and the often regressive nature of tax relief for private pension products;

Amendment 5 #

Bas EICKHOUT

Motion for a resolution
Recital D c (new)

D c. whereas contributions to private pension products tend to be higher among higher earners and tax incentives therefore risk increasing inequality;

Amendment 6 #

Martin SCHIRDEWAN

Motion for a resolution
Paragraph 1

1. Calls on the Council~~, with a view to enhancing the uptake of the pan-European P~~ to take no steps in support of the Commission Recommendation on the tax treatment of personal Ppension Pproduct ~~(PEPP), to elaborate proposals regarding incentives for PEPP savers~~s, including the pan-European Personal Pension Product (C(2017)4393);

Amendment 7 #

Bas EICKHOUT

Motion for a resolution
Paragraph 1

1. Calls on the Council, with a view to enhancing the uptake of the pan-European Personal Pension Product (PEPP)~~, to elaborate proposals regarding incentives for PEPP saver~~ among low income groups and groups with insufficient access to other collective retirement systems, to elaborate proposals regarding incentives for PEPP savers, provided that these incentives are clearly targeted and monitored for their effectiveness and redistributive effects;

Amendment 8 #

Martin SCHIRDEWAN

Motion for a resolution
Paragraph 2

2. Suggests for the following approaches to be considered: - granting the same tax relief to PEPP as the one granted to national personal pension products, even in cases where PEPP features do not fully match all the national criteria; - granting a specific tax relief to PEPP, harmonised at Union level, to be laid down in a multilateral tax agreement between Member States; - granting a specific subsidy or premium to PEPP savers, in the form of a fixed amount or fixed percentage;deleted

Amendment 9 #

Bas EICKHOUT

Motion for a resolution
Paragraph 2 – indent -1 (new)

-1 - analysing existing tax incentives for personal pension products and assessing their costs, effectiveness and redistributive effects and where applicable addressing inefficiencies and regressive effects;

source: 620.853

History

(these mark the time of scraping, not the official date of the change)

2018-09-12Show (6) Changes | Timetravel

activities/0	date 2018-01-18T00:00:00 body EP type Committee referral announced in Parliament, 1st reading/single reading committees body: EP shadows: group: EPP name: HAYES Brian group: S&D name: SORU Renato group: ECR name: FOX Ashley group: Verts/ALE name: EICKHOUT Bas group: ENF name: ANNEMANS Gerolf responsible: True committee: ECON date: 2017-07-06T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: ALDE name: IN 'T VELD Sophia
activities/1	date 2018-09-03T00:00:00 body EP type Vote in committee, 1st reading/single reading committees body: EP shadows: group: EPP name: HAYES Brian group: S&D name: SORU Renato group: ECR name: FOX Ashley group: Verts/ALE name: EICKHOUT Bas group: ENF name: ANNEMANS Gerolf responsible: True committee: ECON date: 2017-07-06T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: ALDE name: IN 'T VELD Sophia
other/0	body EC dg url: http://ec.europa.eu/info/departments/taxation-and-customs-union_en title: Taxation and Customs Union commissioner MOSCOVICI Pierre
procedure/dossier_of_the_committee	ECON/8/11458
procedure/legal_basis/0	Old Rules of Procedure of the European Parliament EP 046 New Rules of Procedure EP 46
procedure/stage_reached	Old Preparatory phase in Parliament New Awaiting committee decision

2018-01-20Show (5) Changes

activities
committees	body: EP shadows: group: EPP name: HAYES Brian group: S&D name: SORU Renato group: ECR name: FOX Ashley group: Verts/ALE name: EICKHOUT Bas group: ENF name: ANNEMANS Gerolf responsible: True committee: ECON date: 2017-07-06T00:00:00 committee_full: Economic and Monetary Affairs rapporteur: group: ALDE name: IN 'T VELD Sophia
links
other
procedure	reference 2018/2002(INL) title Tax treatment of pension products, including the pan-European personal pension product legal_basis Rules of Procedure of the European Parliament EP 046 stage_reached Preparatory phase in Parliament subtype Request for legislative proposal type INL - Legislative initiative procedure subject 2.50.05 Insurance, pension funds

Activites

Documents

History

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