Single market pensions?

A report into the potential for a single market for personal pensions has been released by the European Insurance and Occupational Pensions Authority (EIOPA). EIOPA’s analysis revealed that tax, social law and difficulties in the area of harmonisation of contract law appear to be the most significant hurdles. It outlines two options: introducing common EU rules for all existing and future personal pensions by issuing a Directive, or introducing a Regulation that enables transferability of accumulated capital and product rules.