Fees

Administrative management

The annual administration fees for technical management, book-keeping, and access to the Employee Benefits Center (EBC), are invoiced periodically on an annual flat-fee basis, depending on the number of members and the complexity of the services provided. The fees of the supervisory authority (ASFIP), external auditor, accredited pension actuary, and Board of Trustees are included in this flat-fee. When affiliation begins or ends during the year, these fees are invoiced pro rata.

Reinsurance and distribution

Reinsurance of death and disability risks is invoiced periodically on a flat-rate premium basis calculated at 1 January each year. This premium includes management fees for reinsurance, distribution activities, the takeover of new clients, presentation of annual accounts to the Pension Committee, communications to HR departments and members, day-to-day personalised support for HR departments and members (services or projects not included in the ordinary management are invoiced separately), changes to the pension plan and absence management (incapacity for work).

Brokerage

All external fees or brokerage charges must be transparent, agreed in advance between the Fund’s Pension Committee and the intermediary adviser/broker (approved partner), and validated by the Foundation. Where brokerage fees apply, they are included in the fixed premium (reinsurance and distribution).

Asset management and internal control

Asset management fees under the direct responsibility of the Foundation (cash management, monthly portfolio rebalancing, distribution of investment performance, investment accounting, online reporting, calculation of investment fluctuation reserves, etc.) are calculated according to the assets under management and the complexity of the services provided to each Pension Fund. These fees include services related to the Foundation’s internal control and monitoring asset management compliance.

Asset management

Deposit fees, management fees, and investment advisory fees depend on the conditions set by the various service providers.

Other charges

Charges related to actuarial and consulting services outside the ordinary regulatory framework (partial liquidation, specific actuarial studies, personalised asset-liability report, legal advice, etc.) are invoiced on a real cost basis.