Sources#

Source ids ([S#] primary product documents; [R#] product-specific regulatory and actuarial references) are carried verbatim from _research/per-assurance.md and are frozen — never renumber. Only sources actually cited in product-spec.md or technical-notes.md are listed. No id is omitted: all ten primary sources S1–S10 and all twenty-four references R1–R24 recorded in the research file are cited by the two documents in this directory, so the lists below are complete and carry no gaps. No new source was fetched at drafting; every access date is 2026-08-26, matching the research file’s header statement.

Primary product sources#

S1 — SMAvie BTP (PRO BTP), “PER Individuel CONFIANCE BTP — Notice d’information valant conditions générales” (Juin 2026)#

  • Publisher: SMAvie BTP, with the association GPBF as souscripteur; doc type: notice d’information valant conditions générales, 47 pp.

  • URL: https://www.probtp.com/files/live/sites/probtp/files/media/pdf/epargne/perin-notice-information.pdf

  • Retrieved: YES (PDF downloaded, full text extracted with PyMuPDF; 47 pages, 129 200 characters).

  • Used for: the anchor contract throughout — 4 % entry loading, ≈ 1 % p.a. management charge including the 0,12 % garantie plancher charge, 0,30 % horizon-profile arbitrage, 1 % frais d’arrérages, 1 % transfer indemnity nil after five years, 0 % guaranteed technical rate with no taux minimum garanti, the 20-band glide path on three profiles, semi-annual rebalancing, the garantie plancher to age 70 with the €800 000 pro-rating threshold, the annuity table frozen at adhesion for deductible C1 sums, the €750 partial-exit minima, and the seven L. 224-4 early-release cases reproduced verbatim.

S2 — Generali Vie / Le Cercle des Épargnants, “Le PER Generali Patrimoine — Notice d’information” (PA9601NIB, Mai 2020)#

  • Publisher: Generali Vie, group contract subscribed by Le Cercle des Épargnants; doc type: notice d’information, 40 pp.

  • URL: https://assets.placement-direct.fr/2020-06/Notice_information_PER_Generali_062020.pdf

  • Retrieved: YES (PDF downloaded, full text extracted; 40 pages, 228 904 characters).

  • Used for: 4,50 % entry loading, 0,90 % euro and 1,00–1,10 % UC management charges, the 0,50 % gestion horizon retraite surcharge, nil arrérage charge, the announced annual taux minimum garanti in place of a contractual PB clause, the three horizon profiles hitting the regulatory percentages over the four regulatory bands, the 0 % annuity technical rate, reversion 50 %–200 %, rente par paliers, the €240-per-quarter commutation figure, the rente temporaire d’éducation on death, the 40 % euro cap per versement, and the C3 annuity-only rule on transferred sums.

S3 — MACSF épargne retraite, “Notice d’information RES RETRAITE” (16 10 301 E, édition 10/2024)#

  • Publisher: MACSF épargne retraite, group contract subscribed by AMAP; doc type: notice d’information, 25 pp.

  • URL: https://www.macsf.fr/content/download/16986/fichier/MACSF_1610301E_Notice_information_RES_Retraite.pdf

  • Retrieved: YES (PDF downloaded, full text extracted; 25 pages, 109 973 characters).

  • Used for: the low end of the charge range (0,50 % on both supports, free arbitrages, 3 % frais d’arrérages), annual crediting and annual charging at 31 December — the timing convention the model adopts — the garantie plancher at 0,10 % p.a. to age 70 with the €762 245 cap, the age-driven profile ladder and 15 March / 15 September rebalancing, compliance with the unlisted-asset minima, the annuity-phase provision at a 0 % technical rate, the death benefit valued at notification, and the immediate re-allocation on a change of retirement date.

S4 — Spirica / LinXea, “LINXEA SPIRIT PER — Conditions Générales valant Notice d’information” (CG9403, 01/10/2020)#

  • Publisher: Spirica (Crédit Agricole Assurances), Association Retraite Falguière, distributed by LinXea; doc type: conditions générales valant notice, 52 pp.

  • URL: https://assets.suncel.io/61f14731fceb386b06ff8f0b/hifKK-Linxea_Spirit_PER_CG9403_20201001-1.pdf

  • Retrieved: YES (PDF downloaded, full text extracted; 56 pages, 254 608 characters).

  • Used for: the 0 % entry-loading end of the market, Gestion Pilotée à Horizon as the default on “Équilibré Horizon Retraite” free of charge, threshold-driven rebalancing at least semi-annually, the insurer’s right to restate a profile, the €500 per-profile minimum, no contractual PB clause, the €80-per-month commutation figure, the annuity option set and the statement that the insurer does not guarantee the annuity amount, the 30-day renonciation period, and the provision de diversification support excluded from this product.

S5 — Spirica / ASAC-FAPES (ERES), “Le PER ERES by Spirica — Conditions Générales valant Notice d’information” (CG9406, 01/10/2022)#

  • Publisher: Spirica, Association PERF, ASAC-FAPES / ERES brand; doc type: conditions générales valant notice, 34 pp.

  • URL: https://www.gpm.fr/wp-content/uploads/2022/12/CONDITIONS_GENERALES_PER_ERES_SPIRICA.pdf

  • Retrieved: YES (PDF downloaded, full text extracted; 36 pages, 236 849 characters).

  • Used for: the top of the entry-loading range (4,80 %, applied to incoming transfers as well), the 2,30 % euro charge, free arbitrages inside a de-risking profile, nil arrérage charge, no contractual PB clause, and the demonstration that one insurer’s licence carries three materially different price points.

S6 — Spirica / Bourse Direct, “PLAN D’EPARGNE RETRAITE — VERSION ABSOLUE RETRAITE, Conditions Générales valant Notice” (CG9401, 01/07/2020)#

  • Publisher: Spirica, Association Retraite Falguière, distributed by Bourse Direct; doc type: conditions générales valant notice, 36 pp.

  • URL: https://epargne.boursedirect.fr/uploads/files/products_fin/9e5e145c7d6b6709b8e8547d1e79e26d/Conditions%20G%C3%A9n%C3%A9rales.pdf

  • Retrieved: YES (PDF downloaded, full text extracted; 36 pages, 285 402 characters).

  • Used for: the third Spirica price point (3,50 % entry loading, 2,30 % euro, 1,00 % UC, 0,50 % arrérages), 100 % reinvestment of UC income, the provision de diversification support with its 80 % maturity guarantee, and two-month transfer settlement.

S7 — Suravenir / SEREP, “Suravenir PER — Notice, contrat d’assurance de groupe n° 2240” (réf. 5257-2, 09/2021)#

  • Publisher: Suravenir (Crédit Mutuel Arkéa), association SEREP; doc type: notice, 27 numbered pages (58 PDF pages).

  • URL: https://www.assurancevie.com/asv/document/public/contract_type_file/notice_suravenir_per_vf.pdf

  • Retrieved: YES (PDF downloaded, full text extracted; 58 pages, 321 752 characters).

  • Used for: the regulatory glide-path grid reproduced verbatim as a product specification and the SRRI ≤ 3 low-risk definition, quarterly rebalancing, 0 % entry loading, 0,80 % euro and 0,60 % UC charges, 0,80 % p.a. on annuity reserves, nil arrérage charge, the 0,00 % guaranteed annual rate and the explicit statement that the guarantee is not at gross premiums, the optional death cover with its published age-rated premium scale and €100 000 cap, monthly annuity payment with the table current at the effective date, reversion 1 %–100 %, annuités garanties 5 to 25 years, the annual life certificate, the €80/€110 commutation lineage, and the exit taxation matrix.

S8 — BNP Paribas Cardif (Cardif Retraite), “Les frais du PER assurantiel — Contrat BNP Paribas Multiplacements PER” (23 mars 2026)#

  • Publisher: Cardif Retraite, a Fonds de Retraite Professionnelle Supplémentaire, association UFEP; doc type: standardised fee table published under the arrêté du 24 février 2022 R16, 1 p.

  • URL: https://document-information-cle.cardif.fr/documents/18841382/18862673/BNP%20Paribas%20Multiplacements%20PER/46cc3b6b-3105-1839-d441-67cf6152aa31

  • Retrieved: YES (PDF downloaded, full text extracted; 1 page).

  • Used for: the adopted charge set — 2,50 % entry loading, 0,70 % on the euro support, 0,70 % on UC, no gestion pilotée par horizon surcharge, 1,50 % frais d’arrérages, nil capital-exit charge — plus the €30 minimum versement, the €20 association fee, the 1 % arbitrage charge with no free arbitrages, the published average fund-level charges by asset class, and the explicit statement of the R. 224-6 15 % transfer-value reduction alongside the 1 % cap.

S9 — BNP Paribas Cardif (Cardif Retraite), “Notice du PER Individuel BNP Paribas Multiplacements PER — Fonds en euros Retraite et liste des supports en unités de compte” (supports en vigueur au 21 juillet 2026)#

  • Publisher: Cardif Retraite / BNP Paribas; doc type: annex to the notice carrying the standardised per-support performance-and-charge table required by R16, 10 pp.

  • URL: https://document-information-cle.cardif.fr/documents/18841382/18862670/BNP%20Paribas%20Multiplacements%20PER/9fe8c347-935c-3790-18e4-9813b369d531

  • Retrieved: YES (PDF downloaded, full text extracted; 10 pages, 74 145 characters).

  • Used for: the only complete gross-charge-net triple retrieved — euro-fund asset return 3,38 % in 2025, annual management charge 0,70 %, net rate served 2,75 % — which supplies the model’s euro-return and euro-charge assumptions and the evidence of a PPB release; also the FRPS carrier status and the concentration limits on illiquid UC. Note what the return figure is: one insurer’s realised 2025 asset return, not a forward assumption. Carrying it flat over the projection is an adoption std (product-spec footnote 5); nothing in this source supports the extrapolation.

S10 — Predica / Crédit Agricole Assurances, “Predica lance PER Assurance et LCL Retraite PER” (communiqué de presse, 26 novembre 2019)#

  • Publisher: Crédit Agricole Assurances (Predica); doc type: press release, 2 pp.

  • URL: https://www.ca-assurances.com/wp-content/uploads/CPPDA-PER-ASSURANCE.pdf

  • Retrieved: YES (PDF downloaded, full text extracted; 2 pages).

  • Used for: the bancassurance launch specification — €500 minimum initial versement, 2,5 % frais sur versements, gestion pilotée à horizon on three profiles or gestion libre, and exit as capital in one go or fractionné or as a life annuity. Launch-date figures; no notice d’information was retrieved for either contract, so nothing beyond these is claimed from it.

Regulatory and actuarial references (product research numbering)#

R1 — LOI n° 2019-486 du 22 mai 2019 (loi PACTE), article 71#

  • Publisher: Légifrance (JORF). URL: https://www.legifrance.gouv.fr/jorf/article_jo/JORFARTI000038496266

  • Retrieved: YES (article text as published in the JORF).

  • Used for: the enabling article that inserts Chapitre IV “Plans d’épargne retraite” into the Code monétaire et financier.

R2 — Rapport au Président de la République relatif à l’ordonnance n° 2019-766 du 24 juillet 2019#

  • Publisher: Légifrance (JORF). URL: https://www.legifrance.gouv.fr/jorf/id/JORFTEXT000038811825

  • Retrieved: YES.

  • Used for: the replacement of PERP, Madelin, PERCO and article 83 by three plans marketable from 1 October 2019, the transfer rights from legacy products, and the two headline liberalisations (main-residence release; free annuity/capital choice).

R3 — Code monétaire et financier, L. 224-1 to L. 224-8 (dispositions communes)#

  • Publisher: Légifrance. URLs: chapter index https://www.legifrance.gouv.fr/codes/section_lc/LEGITEXT000006072026/LEGISCTA000038507457/ ; L. 224-1 https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000038507575 ; L. 224-3 consolidated https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000044563706 ; L. 224-4 https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000048805611 ; L. 224-6 consolidated https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000048252425

  • Retrieved: YES (each URL fetched separately; L. 224-1 and L. 224-4 obtained verbatim in French).

  • Used for: the core mechanics — the plan’s object and maturity, the group-insurance form, the three compartments, the default risk-reducing allocation, the seven early-release cases with the C3 carve-out from the main-residence limb, the closure of the plan on death, the exit menu, and the 1 % / five-year transfer-fee cap with the transfer-value reduction.

R4 — Code monétaire et financier, L. 224-28 to L. 224-39 and L. 224-40#

  • Publisher: Légifrance. URLs: https://www.legifrance.gouv.fr/codes/section_lc/LEGITEXT000006072026/LEGISCTA000038818200/ ; https://www.legifrance.gouv.fr/affichCode.do?idSectionTA=LEGISCTA000038818819&cidTexte=LEGITEXT000006072026

  • Retrieved: YES (both).

  • Used for: the minimum age of 18, the duty of advice, the pre-retirement consultation right from five years out with six months’ notice, and the legacy-product transfer regime.

R5 — Code monétaire et financier, partie réglementaire, R. 224-1 to D. 224-18#

  • Publisher: Légifrance. URLs: chapter https://www.legifrance.gouv.fr/codes/section_lc/LEGITEXT000006072026/LEGISCTA000038870991/ ; Section 1 https://www.legifrance.gouv.fr/codes/section_lc/LEGITEXT000006072026/LEGISCTA000038870993/ ; D. 224-3 https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000038871086

  • Retrieved: YES (all three).

  • Used for: D. 224-3 on progressive de-risking, the changeable liquidation date and the delegation of the rythme minimal de sécurisation to an arrêté; R. 224-2 on the annual statement; D. 224-4 on single-payment early release; R. 224-6 on the 15 % transfer-value reduction; D. 224-18 on the ten-year legacy-transfer rule.

R6 — Arrêté du 7 août 2019 portant application de la réforme de l’épargne retraite, article 1 (consolidated)#

  • Publisher: Légifrance (LODA). URL: https://www.legifrance.gouv.fr/loda/article_lc/LEGIARTI000039802054

  • Retrieved: YES for the article-1 URL (fetched three times to extract both quantitative tables and the verbatim French of parts 1° b to 4° b). The arrêté’s landing page (https://www.legifrance.gouv.fr/loda/id/JORFTEXT000038906774) was recorded from a search result and not fetched.

  • Used for: the glide path itself — the four qualified profiles and the minimum low-risk share by distance to the liquidation date (the model’s default grid), plus the part (b) minimum unlisted-asset shares and the 30 % reduction for company plans.

R7 — Arrêté du 1er juillet 2024 modifiant l’arrêté du 7 août 2019#

  • Publisher: Légifrance (JORF). URL: https://www.legifrance.gouv.fr/jorf/id/JORFTEXT000049880444

  • Retrieved: YES.

  • Used for: the insertion of the unlisted-asset minima under the loi industrie verte and their entry into force on 24 October 2024.

R8 — Code des assurances, L. 142-1 to L. 142-8 (PER as group insurance)#

  • Publisher: Légifrance. URL: https://www.legifrance.gouv.fr/codes/section_lc/LEGITEXT000006073984/LEGISCTA000006157902/

  • Retrieved: YES (section fetched twice, once for the article-by-article structure and once for L. 142-3 in French).

  • Used for: the tariff basis and the arrêté-fixed maximum technical rate, the enumerated garanties complémentaires with the loss-of-autonomy cap at twice the acquired rights, the ring-fenced comptabilité auxiliaire d’affectation with the 1 January 2023 deadline, the policyholder priority claim, the recovery mechanism, and the special transfer value for unités de rente products.

R9 — Code des assurances, articles A. 142-1 to A. 142-4#

  • Publisher: Légifrance. URLs: https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000038933717/2022-05-11 ; https://www.legifrance.gouv.fr/codes/section_lc/LEGITEXT000006073984/LEGISCTA000006156967/2026-01-01

  • Retrieved: YES (both).

  • Used for: the 0 % maximum technical interest rate for a PER tariff — the single most load-bearing regulatory number in this product — and the conditions attaching to the loss-of-autonomy garantie complémentaire.

R10 — Code des assurances, articles A. 160-2 and A. 160-2-1 (commutation of small annuities)#

  • Publisher: Légifrance. URLs: https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000043743273 (A. 160-2); https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000043743285 (A. 160-2-1)

  • Retrieved: YES (both).

  • Used for: the €110 monthly commutation threshold, multiplied by the number of months in the payment period, and the abrogated €100 and €80 vintages that several sampled contracts still quote.

R11 — Code des assurances, article A. 335-1 (mortality bases for tariffs)#

  • Publisher: Légifrance. URL: https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000006788627/2006-08-26

  • Retrieved: YES.

  • Used for: the two permitted kinds of mortality table and the floor that an experience-table annuity tariff may never be cheaper than the homologated one. The article does not itself name TH 00-02, TF 00-02, TGH05 or TGF05.

R12 — Arrêté du 1er août 2006 portant homologation des tables de mortalité pour les rentes viagères#

  • Publisher: Légifrance (JORF). URL: https://www.legifrance.gouv.fr/jorf/id/JORFTEXT000000820127/

  • Retrieved: YES.

  • Used for: the identification by name of TGF05 (female) and TGH05 (male) as the homologated generational annuity tables from 1 January 2007. The annexed rate tables were not extracted and are not shipped.

R13 — Code général des impôts, article 163 quatervicies#

  • Publisher: Légifrance. URL: https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000038836248

  • Retrieved: YES (version in force 21 February 2026).

  • Used for: the deductibility of C1 versements and the ceiling formula; the retrieved consolidated text reads five carry-forward years, which the other official sources contradict.

R14 — Code général des impôts, article 990 I#

  • Publisher: Légifrance. URL: https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000047288653

  • Retrieved: YES (version in force since 11 March 2023).

  • Used for: the €152 500 per-beneficiary abatement and the 20 % / 31,25 % rates on death before 70.

R15 — Code général des impôts, article 757 B#

  • Publisher: Légifrance. URL: https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000006305367

  • Retrieved: YES (version in force since 11 March 2023).

  • Used for: the express PER carve-out putting the whole death benefit into the inheritance-duty base where death occurs after 70, and the €30 500 global abatement.

R16 — Arrêté du 24 février 2022 (transparence sur les frais du PER et de l’assurance-vie)#

  • Publisher: Légifrance (JORF). URL: https://www.legifrance.gouv.fr/jorf/id/JORFTEXT000045299785

  • Retrieved: YES.

  • Used for: the prescribed standardised fee table and its frais totaux column, of which S8 and S9 are live instances.

R17 — BOFiP, BOI-IR-BASE-20-50-20 (limites de déduction de l’épargne retraite)#

  • Publisher: Direction générale des Finances publiques. URL: https://bofip.impots.gouv.fr/bofip/1124-PGP.html

  • Retrieved: YES.

  • Used for: the construction of the plafond épargne retraite, the individual assessment per household member, and the use of the prior calendar year’s PASS.

R18 — impots.gouv.fr, “Épargne retraite” (particulier)#

  • Publisher: Direction générale des Finances publiques. URL: https://www.impots.gouv.fr/particulier/epargne-retraite

  • Retrieved: YES.

  • Used for: the published euro ceiling figures (€4 710 minimum, €37 680 maximum, €7 419 employer-contribution offset) that the documents flag as mixing PASS vintages.

R19 — impots.gouv.fr, “Comment sont imposées les sommes du PERP ?”#

  • Publisher: Direction générale des Finances publiques. URL: https://www.impots.gouv.fr/particulier/questions/comment-sont-imposees-les-sommes-du-plan-depargne-de-retraite-populaire-perp

  • Retrieved: YES.

  • Used for: the return-form mapping at exit and the point that capital from a PERIN is taxed at ordinary rates on lines 1AI–1DI, without the 7,5 % option or the quotient.

R20 — service-public.gouv.fr, fiche F36526 “Plan d’épargne retraite (PER) — PER individuel”#

  • Publisher: Direction de l’information légale et administrative. URL: https://www.service-public.gouv.fr/particuliers/vosdroits/F36526/0

  • Retrieved: YES.

  • Used for: the plain-language statement of the regime — the two forms, the minimum age, the compartments, the early-release list including the serious-illness and under-18 cases, the exit menu, the age-graded rente viagère à titre onéreux fractions, the social-levy transition, and the death-taxation split.

R21 — economie.gouv.fr (Bercy Infos), “Comment fonctionne le plan d’épargne retraite (PER) individuel ?” (01/06/2026)#

  • Publisher: Ministère de l’Économie et des Finances. URL: https://www.economie.gouv.fr/particuliers/gerer-mon-argent/gerer-mon-budget-et-mon-epargne/comment-fonctionne-le-plan-depargne-retraite-individuel

  • Retrieved: YES — but only with a browser User-Agent. Two plain fetches returned HTTP 403; the page was then retrieved by curl with a Chrome User-Agent and an Accept-Language: fr-FR header and converted to text locally.

  • Used for: the government’s own 2026 restatement — gestion pilotée as the default, the end of deductibility after 70 from 1 January 2026, the carry-forward transition, the social-levy move to 18,6 % and the flat rate to 31,4 %, the transfer rules, and the closure of the plan on death. Note that this page still describes six early-release cases where the consolidated L. 224-4 lists seven.

R22 — France Assureurs, “L’ASSURANCE RETRAITE — Année 2024” (juillet 2025)#

  • Publisher: France Assureurs, Direction Statistiques & Recherche Économique; annual statistical report, 37 pp.

  • URL: https://www.franceassureurs.fr/wp-content/uploads/lassurance-retraite-en-2024.pdf

  • Retrieved: YES (PDF downloaded, full text extracted).

  • Used for: every market and behavioural anchor in these documents — 4 195 500 individual PERs in force with 91 % in accumulation, contributions €10 496 m of which 65 % into UC, provisions €70,7 bn, the €16 600 average accumulation balance used as the worked example’s opening state, the €2 837 m benefit split that makes early release and transfer the dominant outflows, the €1 651 m / €63,0 bn ratio behind the exit decrement rates, and the annuity/capital/commutation split with its €1 300, €12 500 and €16 200 averages.

R23 — France Assureurs, “L’assurance vie en 2025” and the chiffres-clés pages#

  • Publisher: France Assureurs. URLs: https://www.franceassureurs.fr/espace-presse/lassurance-vie-en-2025-une-collecte-solide-au-service-de-leconomie-francaise/ ; https://www.franceassureurs.fr/nos-chiffres-cles/lassurance-vie/ ; https://www.franceassureurs.fr/nos-chiffres-cles/les-donnees-globales/

  • Retrieved: YES (all three).

  • Used for: the end-2025 insurance-carried PER figures — 7,9 million insured, €111,9 bn of encours, €20,2 bn of 2025 versements — and the implied average contribution behind the worked example’s €3 000 versement.

R24 — DG Trésor / presse.economie.gouv.fr, “Épargne retraite : déploiement du PER … troisième trimestre 2025”#

  • Publisher: Ministère de l’Économie et des Finances / Direction générale du Trésor. URL: https://presse.economie.gouv.fr/386-cp-epargne-retraite-deploiement-du-per-pres-de-127-millions-de-titulaires-et-plus-de-141-milliards-dencours-au-troisieme-trimestre-2025/

  • Retrieved: YES (press release dated 16 February 2026).

  • Used for: the all-provider totals at 30 September 2025 — 12,7 million holders, €141,1 bn, of which PER individuels €82,4 bn. These span both the insurance and the compte-titres form and are not mixed with the France Assureurs subset.

Cross-product references ([REG-R#])#

[REG-R#] tags resolve against references/regulatory-and-actuarial-references.md, whose R1–R49 numbering is frozen there and is prefixed REG- in product documents to avoid collision with the product research numbering above. The entries cited by the two documents in this directory, with a one-line gloss each:

  • REG-R1 — Directive 2009/138/CE (Solvabilité II). https://eur-lex.europa.eu/legal-content/FR/TXT/?uri=CELEX%3A32009L0138 (fetched_ok: no — EUR-Lex serves an AWS WAF challenge). Cited as the prudential frame only; no article number here was read from the instrument.

  • REG-R2 — Règlement délégué (UE) 2015/35. https://eur-lex.europa.eu/legal-content/EN/TXT/?uri=CELEX%3A32015R0035 (fetched_ok: no, same challenge). Same posture: cited, never specified.

  • REG-R5 — EIOPA risk-free interest rate term structures. https://www.eiopa.europa.eu/tools-and-data/risk-free-interest-rate-term-structures_en (fetched_ok: yes). The discount curve a best-estimate valuation of these cash flows would use.

  • REG-R6 — C. ass. art. R. 343-3, the eleven life technical provisions. https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000039739686 (fetched_ok: yes). Why a French provision mathématique includes future management costs.

  • REG-R7 — C. ass. art. R. 343-5, provision pour risque d’exigibilité. https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000030576275 (fetched_ok: yes). Named as a general-account balance-sheet item the model does not compute.

  • REG-R8 — Provision pour aléas financiers, C. ass. art. A. 331-2 (abrogated 2016) and the arrêté du 23 décembre 2008. https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000006787843 (fetched_ok: yes for the article; the current article carrying the computation was not located, so the article reference is unverified).

  • REG-R10 — CMF art. L. 612-1, the ACPR. https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000048029779/2023-09-01 (fetched_ok: yes). The supervisor of the ring fence.

  • REG-R12 — ACPR Recommandation 2024-R-03 (devoir de conseil). https://acpr.banque-france.fr/system/files/2024-12/20241022_recommandation_2024-R-03_0.pdf (fetched_ok: no — HTTP 403 on every request to this host). A known reference only; nothing quantitative is drawn from it.

  • REG-R13 — HCSF, CMF art. L. 631-2-1 (loi Sapin 2 art. 49). https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000034386882 (fetched_ok: yes). The power to limit surrender payments and restrict arbitrages.

  • REG-R14 — C. ass. art. L. 331-3, the obligation to share profits. https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000006798728/ (fetched_ok: yes, version to 1 January 2016; the current article number is unverified).

  • REG-R15 — C. ass. arts. A. 132-10 to A. 132-15, the compte de participation aux résultats. https://www.legifrance.gouv.fr/codes/section_lc/LEGITEXT000006073984/LEGISCTA000031738019/ (fetched_ok: yes). The 85 % financial / technical-less-insurer’s-share arithmetic, and the exclusion of unit-linked commitments.

  • REG-R16 — C. ass. arts. A. 132-16 and A. 132-16-1, the PPB release rule. https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000039801820 (fetched_ok: yes). Eight years generally, fifteen for commitments under a comptabilité auxiliaire d’affectation — which is what a PER is.

  • REG-R17 — C. ass. arts. A. 132-1 / A. 132-1-1, maximum technical rate. https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000035514601 (fetched_ok: yes). The general 75 %/60 %-of-TME ceiling that A. 142-1 displaces at 0 % for a PER.

  • REG-R18 — C. ass. arts. A. 132-2 / A. 132-3, taux minimum garanti. https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000035514622 (fetched_ok: yes, with two recorded extraction gaps). The frame for the one sampled contract that announces an annual TMG.

  • REG-R21 — Arrêté du 1er août 2006, TGH05 / TGF05. https://www.legifrance.gouv.fr/jorf/id/JORFTEXT000000820127 (fetched_ok: yes). The annuity tables, cited by name and never shipped.

  • REG-R22 — Arrêté du 20 décembre 2005, TH 00-02 / TF 00-02. https://www.legifrance.gouv.fr/jorf/id/JORFTEXT000000636581 (fetched_ok: yes). The non-annuity tables governing the accumulation-phase death benefit.

  • REG-R23 — C. ass. art. A. 335-1 and its Annexe. https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000026806627 (fetched_ok: yes, but only pre-2016 versions were served; current placement unverified). Which table applies to what, and the décalage d’âge schedules.

  • REG-R24 — INSEE, mortalité et espérance de vie. https://www.insee.fr/fr/statistiques/8210111 (fetched_ok: yes). The only freely redistributable French mortality series, and the basis of every std decrement proxy shipped here.

  • REG-R29 — C. ass. arts. L. 132-5-1 / L. 132-5-2, renonciation. https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000035731314 (fetched_ok: yes). The thirty-day unwind window.

  • REG-R30 — C. ass. arts. A. 132-4 / A. 132-8, note d’information and encadré. https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000046824912 (fetched_ok: yes). Requires maxima to be disclosed, not levels to be capped — the reason every charge level here is std.

  • REG-R31 — C. ass. arts. L. 132-21 / L. 132-22 / L. 132-23-1. https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000030461815 (fetched_ok: yes). Transfer-value disclosure, annual information and the death-payment clock.

  • REG-R33 — PRIIPs Règlement (UE) 1286/2014 and AMF DOC-2011-05. https://www.amf-france.org/sites/institutionnel/files/private/2023-02/DOC-2011-05_VF14_PRIIPs.pdf (fetched_ok: yes for the AMF document; no for the regulation). The disclosure layer attaching to a unité de compte.

  • REG-R34 — Loi PACTE art. 71 and CMF L. 224-1 to L. 224-8. https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000038507575 (fetched_ok: yes). The cross-product entry for the same texts this product cites as R1 and R3.

  • REG-R41 — CGI arts. 990 I and 757 B. https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000047288653 (fetched_ok: yes). The death-benefit levies, including the PER carve-out after 70.

  • REG-R42 — CGI art. 163 quatervicies. https://www.legifrance.gouv.fr/codes/article_lc/LEGIARTI000038836248 (fetched_ok: yes). PER deductibility; the carry-forward length is unverified there too.

  • REG-R43 — Institut des actuaires, NPA 1 (pratiques actuarielles générales). https://www.institutdesactuaires.com/docs/2016133854_npa1-pratiques-actuarielles-ge-769-ne-769-rales-normes-de-pratique-recommande-769-e-ag-ia-150615.pdf (fetched_ok: yes). The professional frame for assumption setting.

  • REG-R44 — Institut des actuaires, NPA 2 (modèles actuariels). https://www.institutdesactuaires.com/docs/2016133917_npa2-mode-768-les-actuariels-norme-de-pratique-recommande-769-e-ag-ia-150615.pdf (fetched_ok: yes). The standard against which this model’s documentation, worked example and tests are judged.

  • REG-R45 — IFRS 17 Insurance Contracts. https://www.ifrs.org/issued-standards/list-of-standards/ifrs-17-insurance-contracts/ (fetched_ok: yes, landing page only). Fulfilment cash flows plus a contractual service margin; the variable fee approach is unverified here.

  • REG-R46 — France Assureurs, “L’assurance vie en 2025”. https://www.franceassureurs.fr/espace-presse/lassurance-vie-en-2025-une-collecte-solide-au-service-de-leconomie-francaise/ (fetched_ok: yes). Life-market scale alongside the PER figures.

Provenance note#

Extraction details — the per-source key facts, the eighteen extracted specification sections, the cross-insurer variation table and the fifteen-item gaps register that these documents draw on — live in _research/per-assurance.md. The cross-product regulatory bibliography with full annotations lives in references/regulatory-and-actuarial-references.md.

Gaps inherited by this specification and carried forward honestly rather than papered over: no annuity rate card exists in any of the ten primary sources, so the annuity factor is std; the TGF05 / TGH05 rate tables were not extracted and are not shipped, so the decrement CSVs are INSEE-derived std proxies; no lapse, early-release, transfer or annuitisation experience is public, so those decrements rest on a single aggregate ratio from R22; the arrêté defining “actifs à faible risque” was not retrieved and the two contract definitions found conflict, so the model states its own convention; the band structure of the unlisted-asset table is unverified; the carry-forward period and the 2026 social-levy rates are stated inconsistently across official sources and are left standing as unverified; no bancassurance notice d’information was retrieved (the Crédit Agricole group is represented only by a 2019 press release [S10] and BNP Paribas only by fee tables [S8] [S9]); and four of the ten primary contracts are 2020–2022 vintages predating the 24 October 2024 unlisted-asset minima, so their charge levels are indicative rather than current.

On this page
Show Source