On Jul. 6, FR GVT published decree on pension savings plan transfer.
FR GVT published Decree 2024-682 of Jul. 4, 2024 relating to the terms of transfer of certain individual rights being created to a retirement savings plan in application of article L. 224-40 of the Monetary and Financial Code (CMF).
Main Points
The decree caps the transfer fees for certain retirement savings products at 1% of the outstanding amount when they are transferred to the new retirement savings plans.
These fees become zero after ten years; the transfer value may be reduced depending on the transfer right of mathematical provisions or the diversification provision shares.
If it exceeds the share of the assets representing them, up to a limit of 15% of the value of the individual rights of the holders about commitments expressed in euros.
The transfer period of rights is finally set at six months; relevant changes to CMF.
