Chapter I: Provisions relating to certain group provident and insurance operations.

I. – Where, for an insurance undertaking which does not belong to a group within the meaning of Article L. 356-1, the commitments constituted in respect of the operations governed by this chapter represent, as at 31 December 2017, more than 80% of all the technical provisions within the meaning of Title IV of Book III, constituted at the level of the insurance undertaking, Article R. 441-7-1 and the last…

Undertakings reinsuring commitments under an agreement on a uniform proportional basis apply articles R. 441-7 to R. 441-7-3, R. 441-12 and R. 441-21. For the purposes of these articles, the following definitions apply: “the treaty” where “the agreement” is mentioned, “the reinsurer” where “the insurance undertaking” is mentioned and “the ceding undertaking” where “the beneficiaries” are mentioned.

An individual account is opened for each beneficiary who is a member or retiree, showing the contributions paid and the number of corresponding annuity units, broken down by year. A member is defined as any person who pays contributions or on whose behalf contributions are paid.

No gratuitous benefit may be stipulated for the transactions provided for in this chapter.

For each agreement covered by Article L. 441-1, an appropriation sub-account is kept. For each agreement, an appropriation income statement and an appropriation balance sheet account are drawn up, in which the assets representing the commitments of the agreement and the technical provisions mentioned in 1°, 2° and 3° of article R. 441-7 are recorded, as well as a table of commitments received and given, an appendix comprising an inventory…

The collective operations defined in article R. 441-4 give rise to the conclusion of agreements between the insurance undertaking and an intermediary within the meaning of article L. 511-1, acting on behalf of the said undertaking, which may collect the contributions and may provide benefits on behalf of the said undertaking. The contributions paid by the contributors may not be redistributed by the intermediary. The provision of benefits by the…

The collective operations agreement must define the method for determining the annual contributions. It must also contain details of how to determine the number of annuity units corresponding to the said contribution. The agreement is supplemented by an individual subscription certificate containing the same information for each member and setting the age at which each beneficiary is entitled to a pension.

The number of participants, including non-contributors and retirees, in an agreement may not be less than 1,000. This number must be reached within three years of the agreement coming into force.

In the event of cessation of payment of contributions, the agreement may provide for forfeiture of vested rights if the member does not provide proof of payment of at least two annuities. It may also provide for a reduction in the number of annuity units registered in a member’s account in application of article R. 441-18: -where the person concerned has paid premiums or contributions for more than three years,…

The number of annuity units, possibly adjusted as stated in article R. 441-16, which must be entered each year in the individual account of each beneficiary, is equal to the quotient of the contribution, net of charges and taxes, by the acquisition value of the annuity unit. The acquisition value of the annuity unit may depend on the age of the beneficiary.