EXTERNAL NEWS - EPPARG

The European Parliament’s Culture and Education Committee hosted a confirmation hearing with Mr Glenn Micallef, European Commissioner-designate for Intergenerational Fairness, Youth, Culture and Sport, on 4 November 2024. Mr Glenn Micallef shared his views with MEPs on intergenerational fairness, protecting young people and supporting the creative sector, among other topics.

This was the first time that a Commissioner-designate has been allocated a portfolio which includes intergenerational fairness, which is to be taken up by Mr Micallef, who was formerly the Head of the Secretariat of Robert Abela, Maltese Prime Minister, as well as Advisor on EU Affairs and European Council Sherpa.

In his opening remarks, Mr Micallef outlined his plans to ensure intergenerational fairness, stressing that “we must not leave any generation behind” and pointing that that it would be the first ever strategy on intergenerational fairness.

In response to questions, he explained that he saw intergenerational fairness as resting on three pillars:

Harmony between the three generations – not pitting generations against each other or blaming generations for different challenges;
Having equal opportunities for people in different generations;
Having active, empowered citizens that trust public bodies.

He recalled that the concept of intergenerational fairness is set out in the treaties and pledged to work on this very seriously. He also saw that the issue was about the EU’s democratic values, since low perceptions of intergenerational fairness could create frustrations in society, causing disconnect and disillusionment.

He further elaborated that “it is also about our demography. We have ageing populations, greater longevity and lower fertility rates in the union, which in itself is a testament to our quality of life, but we also have to adapt our policies, for example, to the fact that 1 in 2 young people being born today will live to 100 years of age”. He saw that this would have an impact upon the way they look at education, employment policy, housing policies and climate change, and would require efforts across different policy areas. “We will develop a strategy with targeted actions that we will follow up on. I will use foresight to ensure that have evidence-based policies and actions to guide us in our work,” he added.

In other areas of the discussion, he exchanged views with MEPs on issues facing the creative and cultural sectors, including copyright protection and the challenges faced from AI. He also answered questions on participation in sports as a tool to ensure healthy lifestyles. With regard to youth, issues raised included the EU’s response to cyber-bullying and addressing youth mental health, the rights of children, and youth unemployment.

Next steps

It has been reported that Mr Micallef was approved as Commissioner-designate by MEPs after the hearing, and his candidacy is due to be confirmed as a part of a vote on the entire College of Commissioners in the week of 24-28 November 2024, who will take up office for a five year term.

Photo credits: EC – Audiovisual Service

The European Parliament’s Economic and Monetary Affairs Committee hosted a confirmation hearing with Mrs Maria Luís Albuquerque, European Commissioner-designate for Financial Services and the Savings and Investment Union, on 6 November 2024. Bringing her experience as a former Finance Minister of Portugal as well as private sector expertise, Mrs Albuquerque exchanged views with MEPs on a range of topics including pensions, the housing market and securitisation, among others.

In her opening statement, Mrs Albuquerque placed a strong emphasis on ensuring the stability and integrity of the EU financial system as the basis for a strong and competitive European economy. She stated that, if confirmed, she would seek to actively support innovation and inclusive growth while encouraging social mobility and empowering consumers.

She pledged to deliver on the Savings and Investment Union, coherent cross-border supervision, and additional opportunities to finance investment. She also underlined the need for a balanced approach in digital finance, to build trust in the financial system, and empower European citizens to participate in the financial system in a fair way.

Focusing on choice and protection for pensioners

Asked about the situation of pensions on the continent, Mrs Albuquerque responded that for her Europe meant “the 450 million citizens that composed Europe”. She highlighted that, when she spoke of the benefits of the Savings and Investments Union, it was about how it will translate into benefits for people, whether people were saving for their pensions or were already pensioners, who should all be protected.

“It also about giving them choice,” she declared, so citizens could invest their savings in line with their own risk profile and horizon investments. “When I defend the need to build a Savings and Investments Union, the point is exactly to contribute, to have a wealthier Europe … Wealthier people have more opportunities and have better choices,” she underlined.

With regard to pension funds, she also commented that “pension funds are critical for the development of a proper capital market” and that “we need pension funds to be active market participants”.

Savings and Investments Union to address housing market challenges

Asked about the situation of housing and asset classes, Mrs Albuquerque saw that there had been “very low interest rates for a very long time”, which had led to the relative value of assets becoming distorted. She saw there was an incentive for real estate which had increased demand and led to a surge in prices, impacting the housing market. She commented that “building a Savings and Investments Union would contribute significantly to address that situation”. She stated that she was willing to engage with the Commissioner for housing and the College of Commissioners to see how they could potentially consider other measures.

EU banking package requires full implementation

In terms of the EU banking package which contains the Basel III reforms, Mrs Albuquerque stressed that “financial stability is absolutely key”. She did not agree with those who were “under the illusion” that if they would be more lenient or less demanding it would lead to short term gains.

“The Basel III standards should be fully implemented”, she urged, noting that a part of the framework on the fundamental review of the trading book had already been postponed for one year.

She thought it was important to keep an eye on the level playing field and to ensure that the financial sector is competitive at international level, pledging that she would not participate in a “race to the bottom”.

She also noted that Solvency II had been reviewed, which she hoped would assist insurance companies in taking long term investments, and would see if changes introduced to the framework would produce the necessary results.

Securitisation as an important instrument

Asked for her views on the EC consultation on securitisation, which runs until 4 December, she understood that there were some concerns about the risks, but said that it must not be confused with the misuse of the instrument in the past, as higher levels of financing were needed. “Our companies are far too dependent on the banking system,” she declared.

“It is a very important instrument to free up space on a bank’s balance sheet. Everything will need to be tested against financial stability concerns, Now we are in a consultation phase, we need to see what the issues are. It is too early to say on the redesign,” she added.

Towards a new labelling scheme for sustainable finance

Asked about a potential review of the Sustainable Finance Disclosure Regulation (SFDR), Mrs Albuquerque remarked that “the framework is being misused”, creating greenwashing risks when products were being labelled as sustainable and she was not sure if they were. “I would look into the possibility of a proper labelling system for green investments but also for transition investments,” she explained, supporting those who are in transition “as that is where the majority of our production sector is”.

She said that she was willing to propose a scheme that is adequate for labelling, which means setting minimum criteria which would have to be easily understandable and applicable, since “sometimes we make it too difficult and costly to implement on the ground”.

Need to drive growth in risk capital in Europe

Asked about the implications of President Trump’s election and the possible flight of companies to the US, Mrs Albuquerque remarked that “companies and investors – including retail investors – are leaving for the US as they cannot find here what they find there, which is a properly functioning market.” She saw an important role for third countries, including the UK, and predicted that if Europe could develop a deep and liquid market it would also attract investors from third countries.

She noted that while start-ups may initially find the funds to develop their project in Europe, they then need more funds to test their ideas. She saw that there were investors in Europe who may be willing to offer funding but understood that “they do not meet, they meet in the US”. She declared that “there is a need to have more risk capital in Europe” and also saw that there was a cultural issue in that “we have a tendency to punish failure”. She saw that other countries recognise the value in trying and that “failure often brings more opportunity”

Ensuring better implementation of existing rules

Mrs Albuquerque explained that her agenda was not about deregulation but ensuring that existing regulation is better implemented. She underlined that “we have too much red tape” and promised to work with the Commissioner tasked with simplification. She proposed that “we should put the brakes on legislation temporarily” to make sure that they are meeting their aims. “We need to make sure that our legislation is fit for purpose. If not, there is no reason why it is there,” she concluded.

Next steps

It has been reported that Mrs Albuquerque was approved as Commissioner-designate by MEPs after the hearing, and her candidacy is due to be confirmed as a part of a formal vote in the European Parliament on the entire College of Commissioners in the week of 24-28 November 2024, who will take up office for a five year term.

Photo credits: EC – Audiovisual Service

Maria Luís Albuquerque

Deal refinances existing loan book and provides for future loan pipeline

Spry Finance, the Irish-owned provider of lifetime loans to those aged 60 and over, has agreed a long-term funding arrangement with Canada Life Reinsurance which will re-finance its existing loan book and provide funding of up to €100m for future lending.

Spry Finance, the retail arm of Seniors Money Ireland and the only provider of lifetime loans in the Irish market, has enjoyed considerable success since its relaunch in 2021 and the new funding agreement is a signal validation of its strategy and a firm underpinning of its business model for the future.

John Moriarty, Director and spokesperson for Spry Finance, said: “Spry is a customer-focused company, providing older Irish people (60+) with real options for living longer, better. A lifetime loan allows them to release value in their home – without having to sell it or move out – by borrowing a lump sum secured on the property.”

“We’ve enabled more than 750 Irish customers to release equity from their homes – for a range of purposes including home and lifestyle improvements, a cash fund for emergencies, repaying a mortgage, or providing a gift to their family.

“Our arrangement with Canada Life Reinsurance supports our ambition to grow the Spry Finance business in Ireland and develop the Irish market for lifetime loans, inspired by growth in other markets such as the UK.” (1)

Jeff Poulin, CEO of Canada Life Reinsurance, said: “We are delighted to finalise our long-term funding arrangement with Spry Finance. The scale of this investment demonstrates Canada Life Reinsurance’s commitment to our relationship with Spry Finance and our confidence in the Irish market.”

(1) Equity Release Council Market Report Spring 2022 https://www.equityreleasecouncil.com/wp-content/uploads/2022/03/Equity-Release-Council-Spring-2022-Market-Report.pdf

The long-term, tailored financing of equity release in the UK has been the cornerstone of the development of an attractive and safe product, according to Robert Majkowski, CEO of Fundusz Hipoteczny DOM in Poland, and as the idea emerged to transfer similar financing to other European markets this should increase the attractiveness of the product to elderly homeowners in Poland, among other countries.

In the UK, 12,485 people released equity from their homes in the second quarter of 2022, according to the latest data published by the Equity Release Council, a UK trade body bringing together entities operating in the lifetime (or reverse) mortgage market in the country (1). The number of new contracts concluded in the second quarter of 2022 increased by 26%, as compared to the same period of 2021. This means that in the UK, on average, 205 new lifetime mortgage contracts are signed every working day.

The UK equity release market has been growing for over 30 years, and the number of service providers operating in the industry, and the number of different solutions offered to elderly homeowners, is very large. From just April to June this year, more than 12,000 clients signed new contracts, which allowed people to free up £1.6bn which had been ‘frozen’ in real estate (2).

“The fact that hundreds of homeowners are now choosing to release equity each day, based on detailed financial and legal advice, is significant progress from the days when the market was considered an under-developed niche rather than the mainstream option it has become”, says David Burrowes, Chairman of the Equity Release Council. He explains that cash benefits from an equity release product allow elderly homeowners to stabilise their financial situation and often pay off their debts. A large number of retirees, thanks to the funds obtained, wish to support their loved ones financially.

It is worth recalling that the United Kingdom, along with the USA and Australia, is one of the most developed equity markets in the world. The Ernst & Young and the European Pensions and Property Asset Release Group (EPPARG) report “Global Equity Release Roundtable 2020” shows that in the UK the service is already available to people aged 55+, and the most common financial solution is a lifetime mortgage. According to an analysis published in this report, in the UK the annual volume will exceed $13 billion within 10 years, which means the British will be releasing – in just one year – equity of this value (3).

“In the most developed countries, equity release products have been offered for over thirty years, but the dynamic development began in the year 2002. Access to adequate, long-term financing, increased standards of service provision and the reputation of service providers played a key role in this process. The Polish market, if we look at it through the global prism, is still young, fledgling, waiting and even demanding legal regulations. The lack of an appropriate government act that comprehensively covers the entire market and all entities operating on it is one of the “brakes” blocking the development of the industry”, says Robert Majkowski, CEO of Fundusz Hipoteczny DOM, who is also a member of the EPPARG, the organization bringing together equity release providers across Europe.

“In the UK, long-term, tailored financing has for years been the cornerstone of the development of an attractive and safe product for seniors. After some time, the idea emerged to transfer similar financing, which successfully stimulated the development of the British industry, to other European markets. This is what is happening and should increase the attractiveness of the product offered, among others, to Polish seniors,” sums up Majkowski.

(1) Data for the second quarter of 2022 concerning the reverse mortgage market in Great Britain, Equity Release Council. Details: https://www.equityreleasecouncil.com/news/q2-2022-equity-release-market-statistics/

(2) Ibid

(3) Report “Global Equity Release Roundtable 2020”, prepared by EY and EPPARG, published on 28/01/2021. Link: https://epparg.org/news/global-equity-release-market-forecast-to-more-than-treble-by-2031/

Seniors Money Mortgages (Ireland) DAC has announced the purchase of a portfolio of equity release loans with a value of €90m. The loans consist mostly of lifetime loans, with a small number of home reversions(1).

Seniors Money intends to manage the loans through to maturity and repayment. All existing terms and conditions of the loans will continue, while the homeowners who took out the loans will also benefit from the tried and tested consumer protection policies and procedures that Seniors Money – which trades as Spry Finance – provides for all its clients.

Seniors Money (Spry Finance) is the sole Irish lender and servicer of lifetime loans. A lifetime loan allows the over-60s to release equity (value) in their home – without having to sell it or move out – by borrowing a lump sum secured on the property.

John Moriarty, Director of Seniors Money, said: “Seniors Money is delighted with the acquisition of this loan book, which provides additional scale to the company.

“We will continue to manage these loans to maturity and repayment and have been in touch with homeowners whose loans form part of this deal to reassure them that the terms and conditions of their loans will not change – they will continue to be honoured in full by Seniors Money.

“Seniors Money is committed to providing real financial choice, through lifetime loans, to individuals and couples in Ireland aged 60 and over. All of our customers enjoy the same dedicated levels of service – and this will be the case with these homeowners.”

(1) A lifetime loan allows the customer to retain ownership of their home, whereas a home reversion involves the sale of a portion or all of the home to a third party – both products are a form of equity release. In the UK, where equity release is a £5bn per annum market, home reversions represent only 1% of the market. Seniors Money does not offer home reversions.

The Spanish reverse mortgages provider Óptima Mayores has won the ECOFIN Jury Prize 2020. The awards recognise the efforts of companies and institutions that have excelled in their financial management in the last 18 months.

The ECOFIN Awards gala was held on September 8 at La Nave in Madrid, Spain, which brought together the winners for the 12th edition of the awards. This year, for security reasons, it was streamed through the Ecofin forum’s Youtube channel.

Óptima Mayores has thus received a recognition for being “the main promoter of the reverse mortgage in Spain, where it has managed to revive the market since the end of 2018, and where it also obtained a market share of 92% in 2019″.

Angel Cominges Rodrígue Carreño commented: “This award is a recognition of the persistence and determination of the Óptima Mayores team in ensuring that the elderly in Spain have the possibility to release the accumulated savings in their homes in a safe, transparent and responsible way, and thus improve their quality of life.”

He added: “This encourages us to continue working along the same lines and continue to help older people who want to get the most out of their real estate assets while still enjoying it. Thank you!!”

Just Group, the retirement specialist, announced on 13 July 2020 that it has introduced a new innovative feature – a green lifetime mortgage – as part of its latest product update.

The green lifetime mortgage from Just Group (“Just”) will offer discounted interest rates to new lifetime mortgage customers whose property has an A or B-rated Energy Performance Certificate (“EPC”). The new offering will be available to customers applying on the Just For You J2.5 LTV series to be launched on 20 July 2020.

It follows the Chancellor’s announcement on Wednesday of the £2billion Green Homes Grant scheme. Under the new scheme homeowners in England will receive up to £5,000 per household to make energy- saving improvements to their properties, with those on the lowest incomes getting up to £10,000.

Customers qualifying for the green lifetime mortgage feature will receive a 10bps discount on their mortgage rate and a £50 contribution to the cost of the EPC (received via cashback at completion of the advance).

Commenting on the new lifetime mortgage, Paul Turner, Managing Director of Retail at Just Group said: “Just has a proud history of helping financial advisers and intermediaries get the best outcomes for their clients. We do this through continually expanding our broad range of products to make it easy for advisers to design a solution that’s right for their clients’ needs and situation; previous developments include medically underwritten and interest serviced mortgages. Our green lifetime mortgage offers customers with energy efficient homes the benefit of more attractive rates on their Just For You Lifetime Mortgage.

“The £2billion Green Homes Grant announced by the Chancellor last week is designed to help thousands of homeowners make their homes more environmentally friendly and targets more financial support to those least well off. Homeowners who have a property with an energy rating to A or B will not only enjoy lower energy bills but now they can also benefit from a lower interest rate with our green lifetime mortgage. ”

The new J2.5 LTV tier in the Just For You suite of lifetime mortgages offers customers a greater LTV than the J2 LTV series at a lower interest rate than the J3 LTV series and has a loan to value ranging from 23% to 51.9% dependent upon customer age. It is designed to offer a competitive interest rate for the initial lump sum, whilst offering the customers the flexibility of an unused cash facility to be released when funds are required.

Since 2007, every house built, sold or rented must have an EPC, which rates the property with a score from 100, the highest, to 0, the lowest – scores of 81 or above qualify for an A or B rating. An EPC rating is valid for 10 years from the time of assessment and is issued by an accredited domestic energy assessor after an inspection of the property. Further details on EPC ratings can be found here.

Just (Just Group plc) is a FTSE-listed specialist UK financial services company. A leader in the individual retirement income, care and defined benefit de-risking markets, Just has been trusted to manage over £20 billion of customers’ retirement savings and has helped customers release over £5 billion from their properties.

The Equity Release Council (the Council) has published a temporary modification to the requirement for equity release customers to receive legal advice in a face-to-face setting during the COVID-19 pandemic.

The revision follows a detailed consultation with members and industry on the most effective way to maintain product safeguards, while also protecting customers’ personal health and wellbeing in the current climate.

It involves a new process designed with input from across the sector including providers, funders, advisers and in particular expert legal advisers with experience of equity release transactions across the UK. The Council’s Standards Board, with independent consumer and regulatory experts, also supported this process.

This will enable legal advice to be provided remotely without a physical face-to-face meeting during this unprecedented period of national lockdown and social distancing.

The agreed approach ensures multiple, mandatory contact points between the solicitor and customer before committing to take out an equity release plan. It involves a combination of written advice and documented video or telephone calls, which increase the total number of interactions between customers and legal advisers as a result.

As a temporary measure, it will enable independent legal advisers to continue fulfilling their key duties to consumers who are considering the option of equity release, by ensuring that:

The client’s identity has been fully established;
The client has mental capacity to enter into an equity release contract;
The client is not under duress or coercion to enter into the equity release contract;
Where there is more than one party, both agree to enter into the equity release contract.

The revision can only be used while the Government has directed the public to stay at home to contain the spread of COVID-19. During this period, the mandatory physical witnessing of a client’s signature on the mortgage deed can be carried out by an independent adult witness of the client’s choosing, who will also be subject to identity checks and due diligence.

Once restrictions on movement have been lifted, the aim is to return to the full face-to-face legal process with immediate effect. Any cases where sufficient checks cannot be carried out should be delayed until Government restrictions have lifted.

David Burrowes, Chairman of the Equity Release Council, comments:

“These are unprecedented times and the Council is pleased to have secured industry support for a solution that ensures consumers can continue to access quality, independent legal advice when considering whether to release equity from their homes.

“The new measures have been designed with input from expert solicitors who provide legal advice on equity release transaction across the UK. It is designed to support large and small solicitors to advise safely on equity release at this time.

“This unique and temporary solution is the result of collaboration and sharing of legal expertise among Council members in challenging circumstances, to ensure consumers’ interests remain protected. The Council will keep this modification under close review until it ceases, when the Government ends its ‘stay at home’ requirement.

“The process has also reaffirmed the value of the ‘gold standard’ face-to-face requirement for independent legal advice which is retained to use if and when Government guidelines allow.

“Property wealth plays an increasingly important role in later life planning, and these measures to maintain access to equity release legal advice for older consumers will continue to ensure it is chosen for the right reasons, as part of a carefully considered process that looks at both short- and long-term needs.”

More than half of senior citizens in Germany own a home and live rent-free in old age. But the way to one’s own four walls was rocky: two thirds of this group invested most of their money in their own property during their working life. Today’s pensioners could therefore not save much in addition, as the majority of the wealth is in the house or in the apartment. In addition, one in four people did not manage to repay the real estate debts completely until retirement. This is shown by a study conducted by Deutsche Leibrenten AG among more than 1,000 retired German citizens.

“Many pensioners are stuck in an economic dilemma: on the one hand, they have saved during their lives and diligently prepared for retirement; on the other hand, they cannot release their tied assets because they do not want to give up their beloved home and familiar surroundings,” says Friedrich Thiele, CEO of Deutsche Leibrenten AG. Instead of enjoying a carefree retirement, the following applies to many people even in old age: keep well and limit yourself financially. For every second respondent, their financial situation would improve significantly if the assets tied up in the property could be used.

The results of the study show how much the age of retirement is burdened: for 56 percent of the respondents, their financial situation in retirement has worsened. And looking to the future does not promise any improvement: around 30 percent expect a further financial deterioration in the next five to ten years. The repayment of remaining debts on the property is hardly possible. “Our experience shows that if you have not paid off your home by the time you retire, you will bequeath the debt to your heirs,” explains Thiele. According to Thiele, the concept of a real estate pension has proved its worth in order to free up the financial resources to maintain the usual standard of living, and cover necessary renovation measures and costs such as for healthcare.

“With our model, we offer many homeowners the opportunity to finally become debt-free. The real estate pension solves the dilemma. It allows seniors to stay in their own home and still use their assets,” says Thiele. This is because with a real estate retirement, your own house or apartment may be sold, but the former owners remain in it rent-free for life. You will also receive a monthly pension payment, a one-off payment or a combination of both. Both the rent-free right of residence or usufruct and the life annuity are notarized and entered in the land register. “This means that retirees are protected until the end of their lives and they can stay in their property for as long as they want. And even if you later move to a nursing home, you benefit from the rental income. In view of the currently high real estate prices in particular, seniors can look forward to the future with this model,” says Thiele.

German market leader for property pension schemes expands its presence nationwide

During 2019, Deutsche Leibrenten Grundbesitz AG achieved record amounts of new business transactions and procured volumes with 210 units and 75 million euro, respectively. The strong execution corresponds to growth of over 100% in the size of the company as compared to December 2018, thereby confirming the scalability of Deutsche Leibrenten’s platform and institutional nature of its portfolio and operations. These results secure Deutsche Leibrenten’s position as the market leader for property pension schemes in Germany, and further strong growth is expected during 2020 and beyond.

“We are pleased with the strong results of 2019 and are optimistic regarding our future prospects. With the 50-million-euro convertible bond issued in November 2019, we have laid the foundation to further expand our strong position in the market for property pension schemes”, says Friedrich Thiele, CEO of Deutsche Leibrenten AG. “With some five million property owners over the age of 65 in Germany, and a continuously ageing population, the market for responsible property pension schemes is very large.”

Establishment of own branch offices in major cities

The Frankfurt-based company offers homeowners throughout Germany aged 70+ all forms of property pension arrangements: monthly pension payments, a one-off payment, or a combination of both.

Alongside the continued expansion of the external sales structures consisting of real estate agents, banks and insurance companies, this year Deutsche Leibrenten AG will also be creating a third pillar to its sales capacity in the form of its own branch offices in major German cities.

“We will intensify our successful working partnership with local partners” says Thorsten Zucht, Chief Sales Officer. “By having our own branch offices, we can offer additional direct key account capacities for providing financial advice and financial services.”

Deutsche Leibrenten Grundbesitz AG offers responsible products to pensioners seeking to release equity without having to move out of their own home. The sellers have a life-long right of residence based on legal usufruct principles – all fully notarised and entered in the land register – and receive a monthly pension and/or a one-off payment. The sole provider of these kinds of pension products, the Frankfurt-based company acquires properties throughout Germany and is supported by its majority shareholder, Obotritia Capital KGaA, based in Potsdam.

Deutsche Leibrenten owns in excess of 400 properties and is Germany’s leading provider of property-based pensions. The company is a member of the European Pensions and Property Asset Release Group (EPPARG).

About Deutsche Leibrenten Grundbesitz AG – www.deutsche-leibrenten.de

<>

European Commissioner-designate for Intergenerational Fairness, Youth, Culture and Sport, Glenn Micallef: “1 in 2 young people born today will live to 100 years of age”

The European Parliament’s Culture and Education Committee hosted a confirmation hearing with Mr Glenn Micallef, European Commissioner-designate for Intergenerational Fairness, Youth, Culture and Sport, on 4 November 2024. Mr Glenn Micallef shared his views with MEPs on intergenerational fairness, protecting young people and supporting the creative sector, among other topics.

European Commissioner-designate for Financial Services and the Savings and Investment Union, Maria Luís Albuquerque: “Financial stability is absolutely key”

The European Parliament’s Economic and Monetary Affairs Committee hosted a confirmation hearing with Mrs Maria Luís Albuquerque, European Commissioner-designate for Financial Services and the Savings and Investment Union, on 6 November 2024. Mrs Albuquerque exchanged views with MEPs on a range of topics including pensions, the housing market and securitisation, among others.

EPPARG explores Global Perspectives and Opportunities at Equity Release Summit

The European Pensions and Property Asset Release Group, EPPARG, hosted a panel discussion highlighting Global Perspectives and Opportunities at the Equity Release Summit held at Church House in Westminster on 23 May 2024. The session explored the key findings of the Global Equity Release Roundtable 2023 Survey Report, which was conducted through a collaboration between EPPARG and EY, and which was formally launched on the same day.

<>

European Commissioner-designate for Intergenerational Fairness, Youth, Culture and Sport, Glenn Micallef: “1 in 2 young people born today will live to 100 years of age”

The European Parliament’s Culture and Education Committee hosted a confirmation hearing with Mr Glenn Micallef, European Commissioner-designate for Intergenerational Fairness, Youth, Culture and Sport, on 4 November 2024. Mr Glenn Micallef shared his views with MEPs on intergenerational fairness, protecting young people and supporting the creative sector, among other topics.

European Commissioner-designate for Financial Services and the Savings and Investment Union, Maria Luís Albuquerque: “Financial stability is absolutely key”

The European Parliament’s Economic and Monetary Affairs Committee hosted a confirmation hearing with Mrs Maria Luís Albuquerque, European Commissioner-designate for Financial Services and the Savings and Investment Union, on 6 November 2024. Mrs Albuquerque exchanged views with MEPs on a range of topics including pensions, the housing market and securitisation, among others.

EPPARG explores Global Perspectives and Opportunities at Equity Release Summit

The European Pensions and Property Asset Release Group, EPPARG, hosted a panel discussion highlighting Global Perspectives and Opportunities at the Equity Release Summit held at Church House in Westminster on 23 May 2024. The session explored the key findings of the Global Equity Release Roundtable 2023 Survey Report, which was conducted through a collaboration between EPPARG and EY, and which was formally launched on the same day.

<>

European Commissioner-designate for Intergenerational Fairness, Youth, Culture and Sport, Glenn Micallef: “1 in 2 young people born today will live to 100 years of age”

The European Parliament’s Culture and Education Committee hosted a confirmation hearing with Mr Glenn Micallef, European Commissioner-designate for Intergenerational Fairness, Youth, Culture and Sport, on 4 November 2024. Mr Glenn Micallef shared his views with MEPs on intergenerational fairness, protecting young people and supporting the creative sector, among other topics.

European Commissioner-designate for Financial Services and the Savings and Investment Union, Maria Luís Albuquerque: “Financial stability is absolutely key”

The European Parliament’s Economic and Monetary Affairs Committee hosted a confirmation hearing with Mrs Maria Luís Albuquerque, European Commissioner-designate for Financial Services and the Savings and Investment Union, on 6 November 2024. Mrs Albuquerque exchanged views with MEPs on a range of topics including pensions, the housing market and securitisation, among others.

EPPARG explores Global Perspectives and Opportunities at Equity Release Summit

The European Pensions and Property Asset Release Group, EPPARG, hosted a panel discussion highlighting Global Perspectives and Opportunities at the Equity Release Summit held at Church House in Westminster on 23 May 2024. The session explored the key findings of the Global Equity Release Roundtable 2023 Survey Report, which was conducted through a collaboration between EPPARG and EY, and which was formally launched on the same day.

<>

European Commissioner-designate for Intergenerational Fairness, Youth, Culture and Sport, Glenn Micallef: “1 in 2 young people born today will live to 100 years of age”

The European Parliament’s Culture and Education Committee hosted a confirmation hearing with Mr Glenn Micallef, European Commissioner-designate for Intergenerational Fairness, Youth, Culture and Sport, on 4 November 2024. Mr Glenn Micallef shared his views with MEPs on intergenerational fairness, protecting young people and supporting the creative sector, among other topics.

European Commissioner-designate for Financial Services and the Savings and Investment Union, Maria Luís Albuquerque: “Financial stability is absolutely key”

The European Parliament’s Economic and Monetary Affairs Committee hosted a confirmation hearing with Mrs Maria Luís Albuquerque, European Commissioner-designate for Financial Services and the Savings and Investment Union, on 6 November 2024. Mrs Albuquerque exchanged views with MEPs on a range of topics including pensions, the housing market and securitisation, among others.

EPPARG explores Global Perspectives and Opportunities at Equity Release Summit

The European Pensions and Property Asset Release Group, EPPARG, hosted a panel discussion highlighting Global Perspectives and Opportunities at the Equity Release Summit held at Church House in Westminster on 23 May 2024. The session explored the key findings of the Global Equity Release Roundtable 2023 Survey Report, which was conducted through a collaboration between EPPARG and EY, and which was formally launched on the same day.

<>

European Commissioner-designate for Intergenerational Fairness, Youth, Culture and Sport, Glenn Micallef: “1 in 2 young people born today will live to 100 years of age”

The European Parliament’s Culture and Education Committee hosted a confirmation hearing with Mr Glenn Micallef, European Commissioner-designate for Intergenerational Fairness, Youth, Culture and Sport, on 4 November 2024. Mr Glenn Micallef shared his views with MEPs on intergenerational fairness, protecting young people and supporting the creative sector, among other topics.

European Commissioner-designate for Financial Services and the Savings and Investment Union, Maria Luís Albuquerque: “Financial stability is absolutely key”

The European Parliament’s Economic and Monetary Affairs Committee hosted a confirmation hearing with Mrs Maria Luís Albuquerque, European Commissioner-designate for Financial Services and the Savings and Investment Union, on 6 November 2024. Mrs Albuquerque exchanged views with MEPs on a range of topics including pensions, the housing market and securitisation, among others.

EPPARG explores Global Perspectives and Opportunities at Equity Release Summit

The European Pensions and Property Asset Release Group, EPPARG, hosted a panel discussion highlighting Global Perspectives and Opportunities at the Equity Release Summit held at Church House in Westminster on 23 May 2024. The session explored the key findings of the Global Equity Release Roundtable 2023 Survey Report, which was conducted through a collaboration between EPPARG and EY, and which was formally launched on the same day.

<>

European Commissioner-designate for Intergenerational Fairness, Youth, Culture and Sport, Glenn Micallef: “1 in 2 young people born today will live to 100 years of age”

The European Parliament’s Culture and Education Committee hosted a confirmation hearing with Mr Glenn Micallef, European Commissioner-designate for Intergenerational Fairness, Youth, Culture and Sport, on 4 November 2024. Mr Glenn Micallef shared his views with MEPs on intergenerational fairness, protecting young people and supporting the creative sector, among other topics.

European Commissioner-designate for Financial Services and the Savings and Investment Union, Maria Luís Albuquerque: “Financial stability is absolutely key”

The European Parliament’s Economic and Monetary Affairs Committee hosted a confirmation hearing with Mrs Maria Luís Albuquerque, European Commissioner-designate for Financial Services and the Savings and Investment Union, on 6 November 2024. Mrs Albuquerque exchanged views with MEPs on a range of topics including pensions, the housing market and securitisation, among others.

EPPARG explores Global Perspectives and Opportunities at Equity Release Summit

The European Pensions and Property Asset Release Group, EPPARG, hosted a panel discussion highlighting Global Perspectives and Opportunities at the Equity Release Summit held at Church House in Westminster on 23 May 2024. The session explored the key findings of the Global Equity Release Roundtable 2023 Survey Report, which was conducted through a collaboration between EPPARG and EY, and which was formally launched on the same day.

<>

European Commissioner-designate for Intergenerational Fairness, Youth, Culture and Sport, Glenn Micallef: “1 in 2 young people born today will live to 100 years of age”

The European Parliament’s Culture and Education Committee hosted a confirmation hearing with Mr Glenn Micallef, European Commissioner-designate for Intergenerational Fairness, Youth, Culture and Sport, on 4 November 2024. Mr Glenn Micallef shared his views with MEPs on intergenerational fairness, protecting young people and supporting the creative sector, among other topics.

European Commissioner-designate for Financial Services and the Savings and Investment Union, Maria Luís Albuquerque: “Financial stability is absolutely key”

The European Parliament’s Economic and Monetary Affairs Committee hosted a confirmation hearing with Mrs Maria Luís Albuquerque, European Commissioner-designate for Financial Services and the Savings and Investment Union, on 6 November 2024. Mrs Albuquerque exchanged views with MEPs on a range of topics including pensions, the housing market and securitisation, among others.

EPPARG explores Global Perspectives and Opportunities at Equity Release Summit

The European Pensions and Property Asset Release Group, EPPARG, hosted a panel discussion highlighting Global Perspectives and Opportunities at the Equity Release Summit held at Church House in Westminster on 23 May 2024. The session explored the key findings of the Global Equity Release Roundtable 2023 Survey Report, which was conducted through a collaboration between EPPARG and EY, and which was formally launched on the same day.

<>

European Commissioner-designate for Intergenerational Fairness, Youth, Culture and Sport, Glenn Micallef: “1 in 2 young people born today will live to 100 years of age”

The European Parliament’s Culture and Education Committee hosted a confirmation hearing with Mr Glenn Micallef, European Commissioner-designate for Intergenerational Fairness, Youth, Culture and Sport, on 4 November 2024. Mr Glenn Micallef shared his views with MEPs on intergenerational fairness, protecting young people and supporting the creative sector, among other topics.

European Commissioner-designate for Financial Services and the Savings and Investment Union, Maria Luís Albuquerque: “Financial stability is absolutely key”

The European Parliament’s Economic and Monetary Affairs Committee hosted a confirmation hearing with Mrs Maria Luís Albuquerque, European Commissioner-designate for Financial Services and the Savings and Investment Union, on 6 November 2024. Mrs Albuquerque exchanged views with MEPs on a range of topics including pensions, the housing market and securitisation, among others.

EPPARG explores Global Perspectives and Opportunities at Equity Release Summit

The European Pensions and Property Asset Release Group, EPPARG, hosted a panel discussion highlighting Global Perspectives and Opportunities at the Equity Release Summit held at Church House in Westminster on 23 May 2024. The session explored the key findings of the Global Equity Release Roundtable 2023 Survey Report, which was conducted through a collaboration between EPPARG and EY, and which was formally launched on the same day.

<>

European Commissioner-designate for Intergenerational Fairness, Youth, Culture and Sport, Glenn Micallef: “1 in 2 young people born today will live to 100 years of age”

The European Parliament’s Culture and Education Committee hosted a confirmation hearing with Mr Glenn Micallef, European Commissioner-designate for Intergenerational Fairness, Youth, Culture and Sport, on 4 November 2024. Mr Glenn Micallef shared his views with MEPs on intergenerational fairness, protecting young people and supporting the creative sector, among other topics.

European Commissioner-designate for Financial Services and the Savings and Investment Union, Maria Luís Albuquerque: “Financial stability is absolutely key”

The European Parliament’s Economic and Monetary Affairs Committee hosted a confirmation hearing with Mrs Maria Luís Albuquerque, European Commissioner-designate for Financial Services and the Savings and Investment Union, on 6 November 2024. Mrs Albuquerque exchanged views with MEPs on a range of topics including pensions, the housing market and securitisation, among others.

EPPARG explores Global Perspectives and Opportunities at Equity Release Summit

The European Pensions and Property Asset Release Group, EPPARG, hosted a panel discussion highlighting Global Perspectives and Opportunities at the Equity Release Summit held at Church House in Westminster on 23 May 2024. The session explored the key findings of the Global Equity Release Roundtable 2023 Survey Report, which was conducted through a collaboration between EPPARG and EY, and which was formally launched on the same day.

<>

European Commissioner-designate for Intergenerational Fairness, Youth, Culture and Sport, Glenn Micallef: “1 in 2 young people born today will live to 100 years of age”

The European Parliament’s Culture and Education Committee hosted a confirmation hearing with Mr Glenn Micallef, European Commissioner-designate for Intergenerational Fairness, Youth, Culture and Sport, on 4 November 2024. Mr Glenn Micallef shared his views with MEPs on intergenerational fairness, protecting young people and supporting the creative sector, among other topics.

European Commissioner-designate for Financial Services and the Savings and Investment Union, Maria Luís Albuquerque: “Financial stability is absolutely key”

The European Parliament’s Economic and Monetary Affairs Committee hosted a confirmation hearing with Mrs Maria Luís Albuquerque, European Commissioner-designate for Financial Services and the Savings and Investment Union, on 6 November 2024. Mrs Albuquerque exchanged views with MEPs on a range of topics including pensions, the housing market and securitisation, among others.

EPPARG explores Global Perspectives and Opportunities at Equity Release Summit

The European Pensions and Property Asset Release Group, EPPARG, hosted a panel discussion highlighting Global Perspectives and Opportunities at the Equity Release Summit held at Church House in Westminster on 23 May 2024. The session explored the key findings of the Global Equity Release Roundtable 2023 Survey Report, which was conducted through a collaboration between EPPARG and EY, and which was formally launched on the same day.