#2002-1314Decree on Financial Organization of Pension Schemes for Self-Employed Workers
AI-generated summary for informational purposes only. Not legal advice. See the original source for the authoritative text.
This decree sets specific financial rules for pension schemes for self-employed workers in France. It mandates how national or basic pension funds should document their finances, specifying the types of investments allowed for fund reserves. It requires pension funds to comply with these rules by a set deadline, aiming to ensure financial transparency and stability within the system.
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Key Changes
- Establishment of rules for pension fund investments.
- Requirement for financial reporting within pension schemes.
- Deadline for compliance with new regulations.
Obligations
What this law requires
National, basic, and professional section pension funds must record in their accounting all operations related to: (1) administrative management, social action, available funds for benefit payments, and carryforward; and (2) constitution of reserves allocated to managed risks.
Reserve funds can only be invested in specifically enumerated asset classes: securities, real estate assets, and loans/deposits as detailed in Articles R. 623-3 sections I, II, and III.
At least 90% of the portfolio must be composed of assets denominated or realizable in euros.
Securities and similar titles must be either registered in an account or deposited with an authorized intermediary, or registered nominatively in the issuer's accounts if the issuer is located in France.
Medium-term negotiable notes must meet specific conditions: originate from an issue of at least €30 million, be valued by at least two distinct unrelated organizations, have published pricing at least every 15 days, include liquidity clause, and include price guarantee clause.