Commission Delegated Regulation (EU) 2021/473 CHAPTER V — THE COSTS AND FEES FOR THE BASIC PEPP

Article 12–Article 13 · 2 articles

Compiled from an official source version. Later amendments or repeals may not be reflected; the official text prevails. · Read the official text ↗

Types of costs and fees for the Basic PEPP

Article 12

1. The costs and fees referred to in Article 45(2) of Regulation (EU) 2019/1238, in relation to the Basic PEPP saver’s accumulated capital at the end of the respective year, shall comprise all actual incurred costs and fees, incurred directly at the level of the provider or at the level of an outsourced activity, including appropriate overhead costs and fees in relation to the saving in the Basic PEPP and distribution of the Basic PEPP. Those costs and fees shall include in particular the following costs: (a) administrative costs; (b) investment costs; (c) distribution costs. 2. Any costs and fees linked to additional elements or features of the Basic PEPP, that are not required by Article 45 of Regulation (EU) 2019/1238, and any costs and fees linked to the switching services as set out in Article 54 of Regulation (EU) 2019/1238, shall not be included in the costs referred to in Article 45(2) of Regulation (EU) 2019/1238.

Costs and fees for guarantees the Basic PEPP

Article 13

1. If the Basic PEPP provides for a guarantee on the capital, which is to be due at the start of the decumulation phase and during the decumulation phase as provided for in Article 45(1) of Regulation (EU) 2019/1238, the costs directly linked to that capital guarantee shall not be included in the costs referred to in Article 45(2) of Regulation (EU) 2019/1238. 2. The PEPP provider shall explicitly and separately disclose the costs charged for the capital guarantee under the section titled ‘What are the costs?’ in the PEPP KID and under the section titled ‘How has my PEPP changed in the last year?’ in the PEPP Benefit Statement. 3. Where relevant, the PEPP provider shall be able to provide evidence that the respective costs are directly linked to the capital guarantee at the request of the national competent authority or EIOPA.

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