Greece's Ministry of National Economy and Finance endorses EU supplementary pension reforms and backs PEPP simplification at ECOFIN

Greece's Ministry of National Economy and Finance published remarks by Minister Kyriakos Pierrakakis at an ECOFIN open meeting on the EU Savings and Investment Union, setting out Greece’s positions on planned changes to occupational and personal pension frameworks. Greece supported the overall direction of the reform agenda, arguing for rapid implementation while keeping a strong focus on governance and consumer protection. On the review of the Institutions for Occupational Retirement Provision (Occupational Pension Funds) Directive, Greece backed a minimum-harmonisation approach and the emphasis on governance, risk management and transparency, while calling for a more functional application of proportionality for smaller funds. It also highlighted the need for clear allocation of responsibilities and strong safeguards in more complex settings such as multi-employer schemes and cross-border arrangements. On the revision of the Pan-European Personal Pension Product (PEPP) Regulation, Greece supported simplification to make the product simple, cost-effective and safe, welcomed measures aimed at making tax treatment comparable with national private pension products, and called for greater flexibility in product design and distribution to improve commercial viability. The remarks also stressed continued consumer protection, including clear capital guarantees in the basic option and appropriate advice to help savers select products aligned with their needs and risk profile.