Company Pension Savings Plans: Sustained Growth that Holds for the First Quarter of 2017
At the end of the first quarter 2017, contributions to company pension savings plans (plans d’épargne retraite entreprises)¹ were up 4,8% at 607 million Euros, of which 22 million Euros were voluntary payments (-8,3%).
The value of company pension savings plans was 54.7 billion Euros, up 3,5%. Over the same period, 530 million Euros of benefits were paid out, an increase of 10,4%.
Net contributions in the first quarter 2017 were 77 million Euros.
At the end of March 20172, 4.2 million insured parties were covered by company pension savings plans, a growth of 3,8% over the year.
¹ A company pension savings plan (plan d’épargne retraite entreprises) is a pension insurance mechanism, put in place by a company for its employees to assist them in preparing for retirement. The plan guarantees payment of an income for life, thus offering future retirees additional protection. Employees can make voluntary individual payments in addition to the contributions payable by the employer and the employees.
² The statistics are for companies governed by the French Insurance Code (direct business). The value corresponds to the mathematical provisions. Benefits are for all contracts, in both the saving phase and the payout phase.