French Insurance Code

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…

I. – Articles I to IV of article D. 132-7, article D. 132-8 and article D. 132-9 apply to the procedures for the individual transfer of a member’s rights to another plan. II – In the event that the transfer value of the mathematical reserves or diversification reserve units exceeds the proportion of the assets representing them, the contract may provide for this transfer value to be reduced accordingly, without…

Subject to the third paragraph of I of article L. 144-2, II of article R. 134-10 and article R. 134-11, as well as article R. 134-12 apply to each subsidiary account and no fidelity guarantee not payable by the insured at the time of the transfer or any gratuitous benefit may be stipulated.

The annual report referred to in III of Article L. 144-2 shall give an account of a) New memberships in the plan, and the flow of contributions and benefits paid during the financial year; b) Operations relating to the promotion and marketing of the plan carried out during the financial year; c) Claims by members of the plan and any other disputes or proceedings brought by the insurance company in…

The transfer of a popular retirement savings plan from one insurance undertaking to another entails the transfer to the new insurance undertaking of all the technical provisions that have been set aside in respect of the plan and the assets representing these provisions. The original insurance undertaking closes the accounts of the plan on the date scheduled for this transfer. If, at the time of its transfer to a new…

The technical procedures for implementing this chapter shall be specified by order of the Minister for the Economy.