Retirement Savings Groups (GERP) register
Created by Act 2003-775 of 21 August 2003 reforming pensions, the retirement savings plan (PERP) allows the holder to build up additional retirement income in the form of an annuity.
This product is subscribed by signing up to an insurance contract entered into between an association, known as a Retirement Savings Group (GERP), and an insurance institution. These groups, which are now partly subject to the new rules applicable to associations of policyholders, must also apply specific governance rules. This institutional framework is designed to ensure that the interests of subscribers to PERPs, or, in the event of their death, the interests of their beneficiaries, are represented. A given GERP may offer more than one PERP.
Article R.144-5 of the Insurance Code stipulates that GERPs must register with the ACPR within six months of entering into their first PERP.
To register with the ACPR, a GERP must submit the following:
The ACPR has two months to issue the registration number that must be shown on contractual documents relating to plans subscribed by the association. This number consists of the association’s business registration (SIREN) number followed by a sequence number.
The ACPR must be informed within 30 days if:
Updated on: 07/17/2017 15:14