The governance
ERAFP manages the additional public service pension and as such, it centralizes the plan's receipts and expenses in its accounts and ensures the payment of benefits to beneficiaries (art. 16 of the decree of June 18, 2004).
The Scheme's board is placed under the joint supervision of mutliple actors, such as:
- line ministries: minister in charge of the public service, the minister in charge of the budget, the minister in charge of social security and the minister in charge of the economy (article 27 of the decree of June 18, 2004);
- the board;
- the French public additionnal pension scheme (ERAFP);
- the administrative manager (Caisse des Dépôts).
A deliberative body, the board of directors plays an essential role in the governance of the plan.
Board's structure and responsibilities
The board of directors has 19 members:
- eight representatives of active contributors drawn from the representative trade unions;
- eight representatives of employers, comprising three for the State, three for the regional and local authorities and two for the public hospitals sector;
- three qualified persons.
The board of directors considers matters falling within the remit of its regulatory responsibilities:
- determination of asset allocation;
- valuation of the Scheme’s commitments;
- determination of the amount of reserves required to cover these commitments;
- determination of the purchase values and service values of points;
- adoption of ERAFP's budget;
- approval of the financial statements, etc.
Board's pecialised committees
Four specialised committees assist the board of directors in the preparation and follow-up of its work, particularly in terms of asset-liability management, audit and collections (committees instituted by the decree of 18 June 2004) and investment policy monitoring (committee created by the board meeting of 8 June 2006).
Their members are appointed by the board of directors.
Board of directors composition
Qualified persons
Employer representatives of the central governance
Employer representatives of regional and local authorities
Employer representatives of public hospitals
Representatives of active contributors
Deliberations
Appointments
ERAFP's director role
The director of the ERAFP is appointed for a term of four years by order of the supervisory ministers. This mandate can be renewed once.
M. Régis Pélissier is the curent director of ERAFP and, as such, exercises a certain number of prerogatives listed in the decree (art. 26 of the decree of June 18, 2004), including:
- prepare and implement the deliberations of the Board of Directors;
- represent the establishment in court and in all civil acts;
- prepare and execute the budget of the establishment;
- be the authorizing officer for revenues and expenditures;
- conclude the contracts, agreements and markets of the establishment and control their execution;
- implement the agreements decided by the board of directors;
- propose to the Board of Directors the general orientations of the institution's investment policy as well as those of socially responsible investment and implements them;
- ensure the competition of companies (in the process of calls for tender for the delegated management of certain categories of assets);
- be responsible for the institution's communications in accordance with the guidelines defined by the Board of Directors and ensure the development of relations with external organizations and institutions.
The director may delegate his powers or signature to agents of the institution within the limits and conditions determined by the board of directors.