On Jul. 11, FR AFG informed of recent decrees re insurance, pension.
FR AFG informed of publication of decrees governing investments in capitalization contracts and certain life insurance contracts as well as in retirement savings plans.
Main Points
Decree of Jul. 1, 2024 establishing profiled managed management with regard to capitalization contracts and certain life insurance contracts, see #218683.
And Decree of Jul. 1, 2024 amending the Decree of Aug. 7, 2019 implementing the retirement savings reform; both decrees implement parts of the Green Industry Law.
Modification of the managed management profiles in capitalization contracts and certain life insurance contracts to integrate a share of investment in SMEs.
These investments must be made directly/indirectly from the list of funds provided for by these decrees e.g. ELTIF funds; private equity funds; funds investing in securities.
In the PER, a new optional profile is created, called Offensive Horizon Retirement.
Specific rules govern individual PERs and company PERs re terms of entry into force of the new rules, i.e. new contracts and new memberships to group insurance contract.
The low-risk investment profile of the assets in these products is assessed according to a SRI (synthetic risk indicator) level of less than or equal to 2, compared to previous 3.
Change in the deadlines governing individual transfers or changes of PER manager.
