Title VIII: Supplementary occupational pension funds

Supplementary occupational pension funds are legal entities governed by private law whose purpose is to cover supplementary occupational pension commitments, as defined in article L. 143-1, commitments entered into by an association mentioned in article L. 144-2 and supplementary pension commitments entered into under other group insurance schemes, the list of which is set by decree by the Conseil d’Etat. Supplementary occupational pension funds limit their activity to the coverage…

I. – A single supplementary occupational pension fund may cover several contracts relating to supplementary occupational pension commitments and may, by way of derogation from the provisions of the French Commercial Code relating to company accounts, establish one or more sub-ledger accounts for the commitments of these contracts. This provision may be applied individually to a contract. The sub-ledger accounts relating to the operations of the supplementary professional retirement fund,…

Supplementary occupational pension funds must be set up in the form of a public limited company (société anonyme) or a mutual insurance company (société d’assurance mutuelle) and must comply with the rules governing their formation and operation which are common to or specific to each of these legal forms, in particular those set out in Chapter II of Title II of this Book.

The provisions of Titles I, III, IV and VI of Book I and of Chapter I of Title IV of Book IV applicable to life assurance or capitalisation undertakings are applicable to contracts underwritten by supplementary occupational pension funds. For the application of these provisions, supplementary occupational pension funds are treated in the same way as life assurance or capitalisation undertakings.

The provisions of Article L. 310-25 and of Chapters III, VI, VII and VIII of Title II of this Book, applicable to life insurance and capitalisation companies, apply to supplementary occupational pension funds. Supplementary occupational pension funds established in the form of a public limited company are exempt from the levy provided for in article L. 232-10 of the French Commercial Code.

Subject to adaptations provided for by regulation, Title IV of this Book shall apply to supplementary occupational pension funds.

Unless otherwise provided, a decree in the Conseil d’Etat shall specify the terms and conditions for the application of this Title.