Part Three: Working hours, pay, profit-sharing and employee savings schemes

For the application of the second paragraph of Article L. 3334-11, the rules of the collective retirement savings plan define the conditions under which each participant is offered a savings allocation option with the aim of gradually reducing the financial risks weighing on the value of the assets held in the undertakings for collective investment in transferable securities or collective investments covered by paragraphs 1, 2 and 6 of sub-section…

The information relating to the option provided for in Article R. 3334-1-2 is provided by the institution authorised to carry out the activities of custody or administration of financial instruments to which the participants’ account has been entrusted. The information is sent, together with the annual individual statement of account mentioned in article L. 3341-7, to each participant as from his forty-fifth birthday.

The ceiling provided for in Article L. 3332-11 is set at 16% of the annual amount of the ceiling provided for in Article L. 241-3 of the Social Security Code.

The rules of the group retirement savings plan set out the conditions for the delivery of sums or values held in participants’ accounts in the form of a life annuity acquired for valuable consideration. However, when the rules provide for the delivery in capital or conversion into an annuity of the sums or values registered in the participants’ accounts, each participant expresses his choice when releasing the sums or values…

Where the rules of the collective retirement savings plan provide for employees to join by default, the company shall inform each employee in accordance with the procedures set out in the plan rules. The employee has a period of fifteen days from the date of such notification in which to expressly waive such membership. The employee may be informed electronically, under conditions that guarantee the integrity of the data.

The initial payment and the periodic payment by a company into the collective retirement savings plan provided for in article L. 3334-6 benefit all members who satisfy the seniority conditions, if any, provided for in the plan regulations. The total amount of these two payments may not exceed 2% of the annual amount of the ceiling provided for in the first paragraph of article L. 241-3 of the Social Security…

The fees for managing the sums invested in the collective retirement savings plan after a beneficiary has left the company, as mentioned in article L. 3334-7, may not exceed an annual amount of 20 euros. However, where the sums and securities held in the beneficiaries’ accounts represent an amount of less than 400 euros, the management fees may not exceed 5% of the total of these sums and securities.

The cases in which, pursuant to article L. 3334-14, the rights built up under the collective retirement savings plan for the benefit of employees may, at their request, exceptionally be liquidated before retirement are as follows: 1° Invalidity of the person concerned, their children, their spouse or their partner in a civil solidarity pact. This disability is assessed within the meaning of 2° and 3° of article L. 341-4 of…

The employee’s request for early liquidation may be made at any time, except in the case provided for in 3° of article R. 3334-4. In this case, the request must be made within six months of the triggering event. The early lifting of the unavailability period takes the form of a single payment which, at the option of the person concerned, relates to all or part of the rights likely…