The European Union, together with the rest of the world, is looking for solutions to the current demographic and pension challenges. The number of the elderly population is increasing, while the mature population that is able to work is decreasing. The projection of the dependency ratio in the coming years does not indicate the necessary positive developments to ensure the sustainability of the pension system and the financial stability of the population of the EU Member States. The need to raise awareness of one's own responsibility for adequate retirement and the development of the personal pension market is becoming more pronounced. Necessary changes are manifested in the limited resources of the state budget and pensions through an unsustainable system of intergenerational solidarity, which gives voluntary forms of pension savings importance. For these reasons, the topic of the performance assessment of the Pan-European Personal Pension Product (PEPP) is the current effort of the European Union to answer, together with the national authorities of the Member States, questions related to the possibility of establishing a single pension market in the future. The pension product should be created in a way that reduces the pension gap and encourages long-term savings for old age, and it is safe, clear and transparent enough for citizens to see its value. Expert literature and available estimates will try to explain the different views regarding the further development of the pan-European personal pension product. This paper expects a structural contribution based on the approximation of the concept and potential importance of PEPP due to the increasing mobility of human capital at the level of the European Union and the protection of pension benefits from the risk of longevity.