Complementary pensions (Voluntary)
Regulatory Framework
Labour Code and Social Security Code (supplementary social protection part); provides for establishment of plans between employer and employees, regulates protection of employees rights.
Insurance Code, Mutual Insurance Code, Social Security Code (supplementary social protection part),
"Ordonnance" n° 2006/344 on supplementary professional pensions, Monetary and Financial Code, General Regulation of the Autorité des Marchés Financiers (Book IV, Collective investment products); define technical, prudential, investment and contract rules.
Monetary and Financial Code; covers licensing and supervising.
General Tax Code, Social Security Code; regulates tax and social treatments.
Plan Profile
Plan sponsors
Types of plans
Institutional Framework
Group insurance Plans: "Art 83" and "Art 39" plans and most of "Art 39" plans with conditional rights are managed by insurance companies regulated by the Insurance Code, or, for non-profit undertakings managed by members, the Mutual Insurance Code or for protection-dedicated entities, by the Social Security Code.
PERCO Plans: Employees' assets are mainly invested in specialized investment funds named Employee investment funds (Fonds communs de placement d'entreprise, FCPE).
Coverage
There are other individual and voluntary occupational plans for self-employed and civil servants in addition to their own public retirement schemes (basic and compulsory complementary schemes). These types of plans are not covered in this profile.
Financing / Investment
Sources of funds
Employee contributions
Employer contributions
Other sources of funds
Methods of financing
Asset management
Benefit provisions
Acquisition and maintenance of rights
Waiting period
Vesting rules
Preservation, portability, transferability
Retirement benefits
Benefit qualifying conditions
Benefit structure / formula
Benefit adjustment
Survivors
Disability
Protection of Rights
Protection of Assets
Financial and Technical Requirements / Reporting
Whistleblowing
Standards for service providers
Fees
Winding up / Merger and acquisition
Bankruptcy: Insolvency Insurance / Compensation Fund
Disclosure of information / Individual action
Other measures
Tax Treatment
Taxation of employee contributions
Taxation of employer contributions
Taxation of investment income
Taxation of benefits
Autorité de contrôle prudentiel et de résolution (ACPR)
61, rue Taitbout
75 436 Paris cedex 09
+ (33) 01 49 95 40 00
https://acpr.banque-france.fr/lacpr.html
ACPR ensures the financial stability and the protection of customers of entities under its control.
ACPR is responsible for the authorization of these entities, the permanent monitoring of their financial position and operating conditions to ensure they are able to perform at any time the commitments they made and to respect the rules of protection of their customers. ACPR also cooperates with the competent authorities in other jurisdictions and, in particular within EEA, to ensure supervision of cross-border groups.
ACPR is an independent public body with legal personality, financed by levies on supervised entities.
2) For Employee investment funds and Providers (Assets management funds, depositaries and custody account-keepers):
Autorité des marchés financiers (AMF)
17, place de la Bourse
75082 Paris Cedex 02
+ (33) 01 53 45 62 00
http://www.amf-france.org/
AMF oversees investments in financial instruments and in all other savings and investment vehicles, ensures that investors receive adequate information and maintains orderly financial markets. AMF is responsible for regulation, authorization, supervision and enforcement.
AMF has jurisdiction over corporate finance activities and disclosure, collective investments products, market and infrastructure and service providers. AMF is also actively involved in financial market regulation and supervision at European and international levels.
AMF is an independent public body with legal personality, financed by levies on supervised entities.
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