Bund Der Versicherten (BdV â German Association Of The Insured) Sees Opportunity For Private European Pension Scheme - Warning Against âLegal Fraudâ Of Life-Insurance Companies At European Level

After repeated consultations, the European Commission is pushing plans for a Pan-European Personal Pension Product (PEPP). The German Association of The Insured (BdV) has delivered its statement and is willing to support the project. BdV-spokesman of the board Axel Kleinlein said: “We need simple, efficient and pan-European concepts for pension schemes.” But with regards to the role of life-insurance companies, he remains very skeptical. On the occasion of a conference on the capital markets union (CMU) with high-ranking representatives in Brussels, Kleinlein warned: “The insurance companies are not reliable and trustworthy partners. This pan-European project must be protected from ‘Legal Fraud’ by the life insurers.”