Subsection 2: Specific technical provisions the popular retirement savings plan

A popular retirement savings plan may be of one or more of the following types: 1° A plan involving the acquisition of a deferred life annuity; 2° A plan consisting in the constitution of savings converted into an annuity; 3° A plan governed by article L. 441-1 of this Code or byarticle L. 222-1 of the Mutual Code; 4° A plan governed by Chapter IV of Title III of Book…

For all the provisions of this section relating to the technical rules specific to the Popular Retirement Savings Plan, the words “mathematical provisions”, “technical provisions”, “provisions for liabilities” and “provisions for profit sharing” must be understood within the meaning of Article R. 343-3.

I. – For plans not covered by articles L. 134-1 or L. 441-1 of this Code, or byarticle L. 222-1 of the Mutual Code : 1° The capitalisation reserve is constituted for each portfolio of securities and investments which is subject to auxiliary allocation accounting. For the undertakings referred to in Article L. 310-3-2, it is taken into account for the constitution of the solvency margin referred to in Article…

I. – For each plan, the statutory auditor(s) of the insurance undertaking certify that the annual accounts of the plan are true and fair. II – The statutory auditor(s) will be invited to attend the meeting of the plan’s supervisory committee at which the latter will issue an opinion on the plan’s annual accounts. On this occasion, the Statutory Auditor(s) shall inform the Supervisory Committee of: 1° The checks and…

Any retrocession of commission received for the financial management of a plan by the insurance company, by its delegated managers, including in the form of a collective investment undertaking, or by the custodian of the plan’s assets, is fully acquired by the plan. All popular retirement savings plans stipulate that the insurance company, its delegated managers, if any, including in the form of a collective investment undertaking, shall not pay…

I. – The insurance undertaking and any agents it appoints to manage the financial aspects of the plan shall exercise the voting rights attached to the securities held to represent the commitments of the plan in the interests of the annuity entitlements of the members, whether these entitlements are in the process of being constituted or in payment. II – When the insurance undertaking directly or indirectly delegates the financial…

Reinsurance treaties relating to commitments entered into under this plan stipulate that the assignees agree to submit to documentary and on-site inspections and expert appraisals carried out by the plan’s supervisory committee and that the assignees’ managers and auditors are required to respond to any request for information made by this committee. Substitution agreements as defined inarticle L. 211-5 of the Mutual Code may not relate to all or part…

An individual account is opened for each member when he/she joins a plan. This account records the premiums and contributions paid and their payment dates or, in the event of a transfer, the amounts transferred and their transfer dates, as well as the mathematical reserves, distinguishing between the portion of these reserves relating to commitments expressed in units of account and the portion relating to commitments expressed in euros, as…

For operations not covered by Chapter IV of Title III of Book I, the insurance undertaking may deduct charges : 1° on contributions paid in or amounts transferred into or out of the plan by members ; 2° On amounts resulting from conversions between rights expressed in euros and those expressed in units of account; 3° on the amount of members’ individual rights; 4° on the performance of the financial…

I. – For plans consisting in the constitution of savings converted into an annuity and for each member whose rights have not been liquidated, the ratio between, on the one hand, the value of the capital guaranteed by the insurance company managing the plan on the scheduled liquidation date of the rights acquired by the member and, on the other hand, the sum of this same value, the mathematical reserve…