# C_2021116EN.01000901.xml

| 31.3.2021 | EN | Official Journal of the European Union | C 116/9 |
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31.3.2021

EN

Official Journal of the European Union

C 116/9

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P8_TA(2019)0358

Tax treatment of pension products, including the pan European Personal Pension Product

European Parliament resolution of 4 April 2019 on tax treatment of pension products, including the pan-European Personal Pension Product (2018/2002(INI))

(2021/C 116/03)

The European Parliament,

| — | having regard to the Commission proposal for a Regulation of the European Parliament and of the Council on a pan-European Personal Pension Product (PEPP) (COM(2017)0343), |
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having regard to the Commission proposal for a Regulation of the European Parliament and of the Council on a pan-European Personal Pension Product (PEPP) (COM(2017)0343),

| — | having regard to the Commission Recommendation on the tax treatment of personal pension products, including the pan-European Personal Pension Product (C(2017)4393), |
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having regard to the Commission Recommendation on the tax treatment of personal pension products, including the pan-European Personal Pension Product (C(2017)4393),

| — | having regard to Rule 52 of its Rules of Procedure, |
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having regard to Rule 52 of its Rules of Procedure,

| — | having regard to the report of the Committee on Economic and Monetary Affairs (A8-0481/2018), |
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having regard to the report of the Committee on Economic and Monetary Affairs (A8-0481/2018),

| A. | whereas the internal market for personal pension products remains highly fragmented, in particular as regards tax reliefs; |
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A.

whereas the internal market for personal pension products remains highly fragmented, in particular as regards tax reliefs;

| B. | whereas the study on the feasibility of a European Personal Pension Framework of June 2017 (FISMA/2015/146(02)/D) demonstrates that fiscal incentives are key to the uptake of the PEPP; |
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B.

whereas the study on the feasibility of a European Personal Pension Framework of June 2017 (FISMA/2015/146(02)/D) demonstrates that fiscal incentives are key to the uptake of the PEPP;

| C. | whereas Member States have exclusive competence in the area of direct taxation; |
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C.

whereas Member States have exclusive competence in the area of direct taxation;

| D. | whereas in the internal market all providers and products must be treated equally, regardless of nationality or Member State of origin; |
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D.

whereas in the internal market all providers and products must be treated equally, regardless of nationality or Member State of origin;

| 1. | Calls on the Council, with a view to enhancing the uptake of the PEPP, to elaborate proposals regarding incentives for PEPP savers; |
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1.

| 2. | Suggests that the following approaches be considered:






  — | analysing existing tax incentives for personal pension products and assessing their costs, effectiveness and redistributive effects, and, where applicable, addressing inefficiencies and regressive effects; |
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2.

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

| — | granting the same tax relief to PEPP as that granted to national personal pension products, even in cases where PEPP features do not fully match all the national criteria; |
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granting the same tax relief to PEPP as that granted to national personal pension products, even in cases where PEPP features do not fully match all the national criteria;

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

| 3. | Stresses that tax is a Member State competence and that any decision to grant special tax relief to the PEPP therefore remains with each Member State; |
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3.

| 4. | Recalls that Member States have the opportunity to take part in enhanced cooperation; |
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4.

| 5. | Instructs its President to forward this resolution to the Commission and the Council. |
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5.

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