French Insurance Code
In forceThe supervisory committee of a people's pension savings plan:
1° Each year, draws up the plan's budget, specifying in particular the conditions and limits under which the supervisory committee may incur expenditure in excess of the amounts provided for;
2° Issues an opinion on the report on the actuarial balance and the administrative, technical and financial management of the plan provided for in III of article L. 144-2 ; it makes this opinion available to the members of the plan and sends a copy to the insurance company;
3° Decides on the legal, accounting, actuarial and financial appraisals of the plan and monitors them. It appoints the persons in charge of these appraisals, in particular with regard to their professional qualifications and their independence from the insurance undertaking, and ensures that these appraisals are carried out properly;
4° Deliberates on the broad outlines of the investment policy decided and implemented by the insurance undertaking and on its monitoring;
5° Examines the procedures for transferring the plan or implementing the provisions of II of article R. 144-19 if the thresholds defined in II of that article are exceeded;
6° Drafts proposals for amendments to the plan;
7° Proposes the renewal or change of insurance undertaking;
8° Organises, where appropriate, competitive tendering between insurance undertakings for the management of the plan;
9° Issues an opinion on the proposal made by the insurance undertaking responsible for the plan to remunerate the savings of plan members according to their savings profile and biometric risks, in particular with regard to the volatility of the diversification provision or the management of unrealised capital gains;
10° Issues an opinion on the handling of complaints from plan members by the insurance undertaking.
