French Insurance Code
In forceI.-In application of article L. 143-2-2, members of a contract referred to in the first paragraph of article L. 381-1 and guaranteed by a supplementary professional retirement fund shall be provided, on request, within a period not exceeding one month:
-the management report and annual accounts relating to the auxiliary allocation account(s) referred to in articles L. 143-4 and L. 381-2 ;
-the report indicating the investment policy and the corresponding technical and financial risks referred to in article L. 143-2-2;
-the procedures for exercising the transfer;
-the amount due if the surrender option is exercised when one of the events referred to in article L. 132-23;
-in the case of unit-linked policies where an investment option is active, additional information on this investment option and the corresponding underlying assets;
-a description of the options available to members to obtain payment of their benefits;
-the level that retirement benefits must reach, where applicable, as well as information on the assumptions used to estimate the amounts expressed as life annuities, in particular the technical rate, the type of benefit and the average duration of the annuity according to the table used.
The statement provided for in article L. 132-22 specifies how the information referred to in this I is to be obtained.
II - Each year, as part of the information provided for in Article L. 132-22, policyholders receive brief information on the situation of the insurance company or the supplementary occupational pension fund and on the level of funding of the pension scheme as a whole.
III -When the employee liquidates his pension rights or when other benefits become due, the insurance undertaking or the supplementary occupational pension fund will send him, or the beneficiary where applicable, within two months, adequate information on the benefits due to him and on the corresponding payment options.
