Company pension savings plans: growth continues during the first half of 2017
During the first half of 2017, Company Pensions Savings Plan1 contributions were up by 2.4%, at 1,267 million Euros. Voluntary contributions accounted for 43 million Euros of this figure (-2,3%).
Benefits of 1,015 million Euros were paid over the same period, an increase of 10.1%.
The net inflow was 252 million Euros for the first half of 2017.
At the end of June 20172, the stock of Company Pension Savings Plans stood at 55.5 billion Euros, up 4.0%. At that date, 4.3 million insured parties were members of a Company Pension Savings Plan, a figure that was up by 5.4% in a year.
Stock of Company Pension Savings Plans in € bn
1 A Company Pension Savings Plan (Plan d’Epargne Retraite Entreprises or PER Entreprises) is a retirement insurance mechanism taken out by a company in favour of its employees to help provide for their retirement. A Company Pension Savings Plan guarantees payment of an income for life, thus offering future pensioners additional protection. The employee can opt to pay voluntary individual contributions (Versements Individuels Facultatifs or VIF) on top of the employer’s and employee’s contributions.
2 The statistics relate to companies governed by the Insurance Code (direct business). The stock corresponds to the mathematical provisions. The benefits relate to all contracts, i.e. both those in the accumulation phase and those in the pay-out phase.