Updated 05/02/2025
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PEPP ToolDelegated Regulation 2021/473
ANNEX I

ANNEX I - Delegated Regulation 2021/473

ANNEX I

TEMPLATE FOR THE PEPP KEY INFORMATION DOCUMENT

Part I. Instructions for filling in the template for the PEPP Key Information Document

1.

 PEPP providers shall comply with the section order, titles, presentation tools and icons set out in the template for the PEPP Key Information Document under Part II of this Annex, which however does not fix parameters regarding the length of individual sections and the placing of page breaks, and is subject to an overall maximum of five sides of A4-sized paper when printed.

2.

 Under the prominent title ‘PEPP Key Information Document’, the following statement shall be added: ‘This document provides you with key information about this pan-European Personal Pension Product (PEPP). It is not marketing material. The information is required by law to help you understand the nature, risks, costs, potential gains and losses of this personal pension product and to help you compare it with other PEPPs.’.

3.

 In the template, PEPP providers may include a QR code linking to the electronic version of the PEPP KID.

4.

 At the top of the template, under the section titled ‘PEPP at a glance’, PEPP providers shall set out the following information:

(a)

the projected accumulated capital for a monthly contribution of EUR 100 for a period of 40 years, under the unfavourable and favourable scenario;

(b)

the total costs per annum as a percentage of the accumulated capital on the basis of monthly contributions of EUR 100;

(c)

the classification of the summary risk indicator; and

(d)

a statement whether the product provides for a guarantee.

5.

 The PEPP provider shall add the following statement: ‘The retirement product described in this document is a long-term product with limited redeemability which cannot be terminated at any time.’.

6.

 In the following section, the PEPP provider may add its corporate branding or logo and shall provide the following information:

(a)

the identity and contact details of the PEPP provider;

(b)

the competent authorities of the PEPP provider;

(c)

the name of the PEPP and the registration number of the PEPP in the central public register;

(d)

under ‘product type’, whether it is a Basic PEPP or not; if not, whether the PEPP KID refers to a specific alternative investment option or provides generic information for a range of alternative investment options; and

(e)

the date of the document.

7.

 Under the title ‘How is my money invested?, the PEPP provider shall present the information according to Article 3(1). PEPP providers may use the right-hand side column or the main area to provide information according to Article 3(10) of this Regulation.

8.

 Under the title ‘Who is this for?’, the PEPP provider shall present the information according to Article 3(2) of this Regulation.

9.

 Under the title ‘Are my savings guaranteed?’, the PEPP provider shall indicate:

(a)

whether the Basic PEPP provides a guarantee on the capital or takes the form of a risk-mitigation technique consistent with the objective to allow the PEPP saver to recoup the capital; or

(b)

whether and to what extent any alternative investment option, if applicable, provides a guarantee or a risk-mitigation technique.

10.

 Under the title ‘What happens when I retire?’, the PEPP provider shall present the information according to Article 3(3) of this Regulation.

11.

 Under the title ‘What happens to my PEPP savings if I die/become disabled/live longer than assumed in my PEPP contract?’, the PEPP provider shall present the information according to Article 3(4) of this Regulation.

12.

 Under the title ‘What happens if I move countries?’, the PEPP provider shall present the information according to Article 3(5) of this Regulation. PEPP providers may use the right-hand side column or the main area to indicate where to retrieve further information.

13.

 Under the title ‘Can I withdraw from the product early?’, the PEPP provider shall include a statement on the consequences for the PEPP saver:

(a)

of early withdrawal from the PEPP, including all applicable fees, penalties, and possible loss of capital protection and possible loss of other advantages and incentives; and

(b)

if the PEPP saver stops contributing to the PEPP, including all applicable fees, penalties, and possible loss of capital protection and possible loss of other advantages and incentives.

14.

 Under the title ‘Can I switch my provider?’, the PEPP provider shall present the information according to Article 3(6) of this Regulation PEPP providers may use the right-hand side column or the main area to indicate where to retrieve further information.

15.

 Under the title ‘Can I change my investment option?’, the PEPP provider shall present the information according to Article 3(7) of this Regulation.

16.

 Under the title ‘Will my money be invested sustainably?’, the PEPP provider shall present the information according to Article 3(8) of this Regulation. PEPP providers may use the right-hand side column or the main area to indicate where to retrieve further information.

17.

 Under the title ‘Is this governed by [Member State] law?’, the PEPP provider shall present information about the law applicable to the PEPP contract where the parties do not have a free choice of law or, where the parties are free to choose the applicable law, the law that the PEPP provider proposes to choose.

18.

 Under the title ‘Can I cancel or change my mind?’, the PEPP provider shall present the information according to Article 3(9) of this Regulation.

19.

 Under the title ‘What is the risk profile of this product?’, the PEPP provider shall present the information according to Article 4(1) of this Regulation. PEPP providers may use the right-hand side column or the main area to indicate where to retrieve further information, in particular on the applied methodologies for the summary risk indicator.

20.

 Under the title ‘Is there a risk that I will lose all my invested capital?’, the PEPP provider shall present the information according to Article 4(2) of this Regulation.

21.

 Under the title ‘What can I expect at retirement?’, the PEPP provider shall, when presenting the information in Article 4(3) and 4(4), set out the information according to Article 4(3)(a) to (c) as follows:

(a)

the unfavourable scenario under the category ‘if your investments perform poorly’;

(b)

the best estimate scenario under the category ‘if your investments have medium success’;

(c)

the favourable scenario under the category ‘if your investments perform very well’;

(d)

the projections of the 40 years accumulation period to ‘your current age is 25’, of the 30 years accumulation period to ‘35’, of the 20 years accumulation period to ‘45’ and of the 10 years accumulation period to ‘55’ respectively.

22.

 Under the title ‘What can I expect at retirement?’, the PEPP provider shall present a statement that the tax law of the PEPP saver’s Member State of residence may have an impact on the actual pay-out.

23.

 Under the section titled ‘What happens if [the name of the PEPP provider] is unable to pay out?’, the PEPP provider shall add a short description of whether the related loss is covered by an investor compensation or guarantee scheme and if so, which scheme it is, the name of the guarantor and which risks are covered by the scheme and which are not.

24.

 Under the title ‘One-off costs’, the PEPP provider shall present the costs for signing up to the contract and the one-off fees if the contract is terminated within five years.

25.

 Under the title ‘Annual costs’, the PEPP provider shall present the information according to Article 5(1) and (3). PEPP providers may use the right-hand side column or the main area to explain any additional costs that the PEPP provider or PEPP distributor charges and provide information detailing any cost of distribution that is not already included in the costs specified under the previous titles, so as to enable the PEPP saver to understand the cumulative effect that those aggregate costs have on the return of the investment.

26.

 Under the section titled ‘What are the specific requirements for the sub-account corresponding to [my Member State of residence]?’ and under the sub-section titled ‘Requirements for the pay-in phase’, the PEPP provider shall describe the conditions for the accumulation phase, as determined by the Member State of residence of the PEPP saver. Under the sub-section titled: ‘Requirements for the pay-out phase’, the PEPP provider shall describe the conditions for the decumulation phase, as determined by the Member State of residence of the PEPP saver.

27.

 Under the section titled ‘How can I complain?’, the PEPP provider shall present information about how and to whom a PEPP saver can make a complaint about the PEPP or the conduct of the PEPP provider or PEPP distributor.

Part II. Template

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