European Pension

Secure a good pension regardless of where your career takes you.

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What is a European Pension (Pepp)?

A pan-European Personal Pension Product, known as PEPP, is a simple and cheap investment savings plan for retirement under EU rules. This pension product is equally valid in Germany and Slovakia and can be contributed to by you or your employer, regardless of which country you work in.

Retirement savings

Uniform EU rules

Investing in ETFs

Employer contributions

Fee of only 0.6% p.a.

Tax-advantaged

Who is the European Pension suitable for?

Anyone who cares about their future and seeks a well-lived retirement. The European Pension is particularly interesting for people who plan to spend their careers outside Slovakia, freelancers, self-employed, and employees of multinational corporations or companies preferring PEPP to local pension pillars (e.g., 3rd pillar). The PEPP is not tied to employment status, it is individual and available to each person living in the European Union. With few exceptions, savings from the PEPP cannot be drawn before retirement age. Read more in our blog.

Easy Transfer

One pension everywhere

Save for your pension no matter which EU country you currently work in. You'll start investing dynamically, and we'll automatically reduce your investment risk in the period before retirement. After retiring, you'll get the amount you've saved in a lump sum or by phased drawdown each month, subject to certain conditions.

A Higher Pension

Thanks to Finax portfolios

Secure a higher pension by investing in stocks of the largest and most successful companies and bonds from around the world via index ETFs. Take advantage of Finax's intelligent investing combined with the benefits and rules of a European pension. You'll conclude the contract entirely online, and your saving progress will always be available for a check via a smartphone.

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Low Costs

Only 0.6% + VAT p.a.

We've kept charges to a minimum, well below the limits of the pan-European Personal Pension Product (PEPP). The European Pension by Finax costs only 0.6% per year + VAT. You pay no other fees, enabling your pension savings to grow faster.

What can you gain?

Create your pension plan. Find out what income you could have in retirement. You can start from as little as €10 a month.

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6 years

Past returns do not guarantee future returns

Expected PEPP pension

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The future pension value ( ) is expressed in today's prices.
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Increased security

Finax reduces risk with a properly allocated portfolio, broad ETF diversification, and automated rebalancing. The European Pension adds an extra element of risk mitigation - a lifecycle strategy. 10 years before retirement, a part of the portfolio is gradually shifted into conservative bonds. This way, your wealth gets less vulnerable to stock market fluctuations while its value continues to grow, even in the payout phase of your pension. PEPP removes local political risks, such as government intervention in the 2nd pillar and 3rd pillar. It brings uniform conditions across the EU. Providers are under the control of national regulators and the European Insurance and Occupational Pensions Authority (EIOPA).

3rd Pillar VS. European Pension

Uniform European PEPP rules ensure standardization of basic product features such as transparency requirements, investment rules, right to switch, and type of investment options. National legislation determines the conditions for savings and payouts. The European oversight of the product prevents it from being canceled, restricted on portability, or priced excessively at the initiative of national governments.

European Pension
Lower charges (only 0.6% p.a. + VAT)
Interesting appreciation in the payout phase as well
Higher returns
Legislative certainty - European rules
3rd Pillar
High fees (1.2% p.a. + 10% of return)
Payout phase with minimal appreciation
Unportable between EU countries
Local political risk (legislative changes)

European Pension Under the Microscope

European pension benefits are taxable. A drawdown of PEPP savings is possible at retirement age and Finax provides two options: a lump sum and a phased drawdown (annuity). The saver's contributions up to a maximum of €180 reduce the tax base. The wealth in the PEPP can be inherited. Take a look at the PEPP key information document for the 100/60 or 80/60 strategy, which is guaranteed to answer most of your questions.

European Pension as an Employee Benefit?

A PEPP is an attractive form of employee benefit for all responsible employers who care about their employees' future. It is an alternative to the 3rd pillar thanks to its lower costs, more attractive payout phase, European framework, potential returns, and legislative certainty. Combined with its flexibility and simplicity, it will charm every employee.

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Enjoy a European pension

with a reliable digital asset manager and the first PEPP provider in Europe.

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Look at our blogs, podcasts, webinars

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DO YOU HAVE FURTHER QUESTIONS?

You can open an account in Finax simply and conveniently online. Click on Let’s start on the top menu bar. You will get to the registration, in which you can select the goal of the investing (product) and answer a few questions about the intended investment and your profile, based on which we will choose a suitable investment strategy for you. You will then create online access, biometrically verify your identity, provide personal information, verify contact details, and sign a portfolio management agreement online. Afterward, nothing will be stopping you from building your wealth effectively. More information.

Finax was founded by Juraj Hrbatý, a seasoned financier with 16 years of experience, together with Radoslav Kasík, who previously worked as a portfolio manager for 9 years. The company's management is completed with Ján Jursa, Ján Tonka, Zoltán Csiba, and Michal Vaculik with extensive experience from various departments of banks, securities traders, and asset management companies. More information about the Finax team.

Finax charges a portfolio management fee of 1% p.a. + VAT on the average value of the account during the year, deducted on a monthly basis. In case the volume of a client’s wealth managed by Finax is at least 100 thousand euros, this fee is reduced to 0.85% p.a. + VAT. In addition, clients may be charged a payment processing fee on deposits of up to 1000 euros 1% + VAT. Price list of services.

Finax offers several discounts, thanks to which you can make your investment with us even more profitable. We regularly bring clients various special offers, but we also provide several permanent discounts, thanks to which you can exempt part of your assets from the portfolio management fee: discount for inviting a friend or discount for transferring investment to Finax from the competition.

All frequently asked questions

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The longer the investment horizon, the more PEPP can contribute to income in retirement. It also grants the option to start saving to persons who are not involved in state or employee pension schemes.

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See a comparison of modeled results of the European Pension and the 3rd pillar in our blog.

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However, the conditions of the savings and payout phases may be subject to changes at the national level.

We are happy to advise you!
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