Representatives of the EU's 28 members have paved the way for the introduction of a pan-European private pension scheme after bloc's ambassadors approved a previous agreement with the European Parliament.

Individuals who want to save for their retirement should have more choice in the future, which is what the Pan-European Pension Product (PEPP), an EU pension plan framework, aims to do by complementing existing statutory, occupational, and national private products.

According to the EU ex...

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