On 27 July 2016, the European Commission (Commission) issued a public consultation on a potential EU personal pension framework. The consultation was published in order for the Commission to assess whether a policy framework to establish a successful European market for simple, efficient and competitive personal pensions is feasible, and determine whether EU legislation is required. The consultation is part of the Capital Markets Union action plan as more investment into personal pensions contributes to a stronger single market for capital through an increase in the funds available to finance the economy.

On 21 October 2016, the Dutch Government’s response to the Commission’s consultation was sent to the Dutch Parliament by the Dutch Minister of Finance. Notably, in the response, the Dutch Government indicates that the need for a framework in respect of individual pension products is limited in the Netherlands, since there is already a well-functioning pension market which is open to other European suppliers of individual pension products.

View the Dutch Government’s reaction on the consultation (Dutch only), 21 October 2016.