, surviving spouse receives a pension that can vary between 52% and 60% of the pension received by the deceased beneficiary. The surviving spouse must be at least 60 years old unless he or she has two children in his or her care or he or she is disabled, p.1073, 2005.
, Beneficiaries having pension entitlements from derived rights (such as survivors' benefits, etc) are not included
, However, it should be noted that 94% of AGIRC beneficiaries were men, 2008.
, For a detailed presentation of assumptions, see COR, pp.277-279, 2006.
,
,
, set up through collective agreements and managed by representatives of employers and employees
, Guillaume Sarkozy -chief representative of Médéric and former vice-president of MEDEF, France's main employers' association -quoted in La Tribune de L'Assurance, 2007.
, Although from a legal point of view, 'paritarian' institutions (institutions de retraite complémentaire) and provident institutions (institutions de prévoyance) are regarded as two separate entities, they continue to coexist within the same private 'paritarian' social protection groups (such as Malakoff-Médéric, Novalis, etc.) whose specificity lies in the
, Complément de Retraite de la Fonction Publique -Civil Service Retirement Supplement
, Complément Retraite des Hospitaliers -Hospital Staff Retirement Supplement
, Caisse Nationale de Prévoyance de la Fonction Publique -National Civil Service Provident Society 28 Fonds de Pension des Elus Locaux -Locally Elected Politicians' Pension Fund
, Autonomous Pension Institution 30 When it was set up for farmers in 1990, COREVA was managed by the Mutualité sociale agricole (MSA), which is also responsible for the farmers' statutory pension
, Epargne Retraite Collective -Collective Retirement Savings Plans 33 Plans d'épargne retraite populaire -Popular Retirement Savings Plans 34 No data are currently available on total coverage by these schemes, as companies often refuse to divulge information that is considered as strictly confidential, given its strategic importance in HR strategy. However, a recent survey carried out by Hewitt Associates shows that DB schemes are offered to a very limited number of employees, as 77% of companies offered them to fewer than 250 employees
, 35 13% of people working in companies employing 1000 workers or more had access to a PERCO plan in, 2006.
, Less than 3% of people working in companies employing less than 250 workers were covered by a PERCO in, 2006.
, Those having less than 10 employees
, 5% of employees put savings in a PERCO at Sanofi Synthelabowhere employer matching contributions were set at 150%, while only 19% of workers employed by L'Oréal, vol.72, 2005.
, More than 16% of individuals that contribute to a PERP a less than 30 years old, compared to 9% of subscribers to PERCO and 4% of those who contribute to Madelin contracts or to a voluntary public sector scheme. 44% of new subscribers to PERCO are in fact aged 50 or more
, These figures do not include pension expenditures financed through book reserves. 11% of funded benefits were paid as part of DC schemes for the self-employed (Madelin contracts) or for farmers (exploitants agricoles contracts). 12% were paid as part of voluntary public-sector DC scheme, 2008.
, 41 This replacement rate may be a function of the employee's length of service in the company
, Dexia Annual Report, p.46, 2007.
, France Telecom Annual Financial Report, p.197, 2007.
, that Daniel BernardCarrefour's recently CEO -would get a "retraite-chapeau" with a replacement rate of 40% of his last salary and that the company had covered the liabilities with 29 million euros on its book reserves. 45 Public sector voluntary DC schemes (PREFON, COREM, CRH, etc.) use the point technique and thus have a slightly different mode of functioning, 2005.
, Lump-sum payments are allowed in case of low benefit levels
, The only exception used to be the CREF which was only partially funded, but, since 2002, the newly created COREM is entirely funded
, Loi Evin, vol.8, 1994.
, tax relief is available for plans financed by book reserves and companies have to pay higher social contribution rates on them
, Contributions rates can be set at different levels according to different wage brackets or the seniority of the employee in the company. Such a differentiation may serve as an HR tool to improve staff retention
, the average annual individual contribution was estimated at 530 euros for contributions to PERP and at 1920 euros for contributions to PERCO (employer matching represented approximately one fourth of that sum), 2006.
, Two types of profit-sharing schemes are available in France. Participation is compulsory in companies that employ 50 people or more and has been introduced in 1967. Intéressement is optional and was, p.1959
, Working time savings accounts" allow workers to opt out from working time reduction policies and to
, Caisses d'Epargne, which have transformed their DB plan into a provident institution (institution de prévoyance) administered by a bipartite board, 2008.
, Two years before retirement age, at least 90% of the invested savings must be guaranteed by the pension manager. Between the two and the five years preceding retirement, at least 80% must be guaranteed, between the five and the ten years that precede retirement
, Commission de contrôle des mutuelles et des institutions de prévoyance -loi Evin du 31 décembre 1989
, The insurance-sector pension scheme originated in fact from the companies' multiple occupational schemes that had been, pp.1937-1938
, Fédération Française des Sociétés d'Assurances
, of CGC opposed the projet and tried to block its implementation by going to court. CFDT was the only union that did not try to obstruct the creation of the scheme
, The Juppé government was at the time planning the introduction of funded pension schemes, and the sector was forced to wait until things were clarified, References AGIRC-ARRCO, 2008.
, Rapport d'information n° 1001 (2005-2006) déposé en application de l'article 145 du Règlement en conclusion de la mission d'information commune sur les exonérations de cotisations sociales et présenté par M, 2008.
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