Subsection 1: Governance of the plan

The supervisory committee of a people’s pension savings plan: 1° Each year, draws up the plan’s budget, specifying in particular the conditions and limits under which the supervisory committee may incur expenditure in excess of the amounts provided for; 2° Issues an opinion on the report on the actuarial balance and the administrative, technical and financial management of the plan provided for in III of article L. 144-2 ; it…

A member of the Supervisory Committee is responsible for examining the plan’s accounts. In this capacity: 1° He/she prepares the Committee’s deliberations on matters relating to the plan’s accounts; 2° He/she submits to the Committee proposed audit assignments for the plan’s accounts; 3° He/she monitors the expert appraisal assignments decided by the Committee pursuant to 3° of article R. 144-14, and presents the conclusions of these assignments to the Committee.

The Supervisory Committee carries out an actuarial study of the plan when it deems it necessary to assess the risks likely to affect the plan. In particular, this study shall cover : 1° The fees and commissions charged, for whatever reason and on whatever investment medium; 2° The structure and demographic prospects of the plan; 3° The investment policy, the structure of the plan’s investments and the match between these…

The Supervisory Committee’s reasoned opinion on the insurance undertaking’s report provided for in III of Article L. 144-2 also includes a mention of any changes made during the past financial year to the composition or operation of the Supervisory Committee or to the remuneration of its members. The report of the insurance company’s statutory auditor(s) on the annual accounts of the plan and on the performance of their duties in…