Allianz PER Horizon

Group insurance contract No. 010-2020-001 - REG33106 - V04-25

INFORMATION NOTICE

1. Allianz PER Horizon is a group insurance contract aimed at covering additional retirement commitments. The rights and obligations of the member may be modified by amendments to the contract concluded between Allianz Retraite and ANCRE. The member is informed in advance of these modifications.

2. Guarantees

• In the event of the insured's survival, starting at the earliest from the date of liquidation of their pension in a mandatory old-age insurance scheme or the age mentioned in Article L161-17-2 of the Social Security Code: payment of a life annuity and/or a capital sum in a lump sum or in installments (see the chapter “The availability of savings” in this document).
• In the event of the insured's death: payment of a capital sum or a life annuity to the designated beneficiaries (see the chapter “In the event of the member's death”).
• For the portion of rights expressed in euros related to the Allianz Fonds Euros support, the contract includes a capital guarantee at least equal to the net amounts paid after reallocations, which did not give rise to a benefit and net of fees and annual contributions to ANCRE.
• For the portion of rights expressed in units of account, the amounts invested in units of account supports are not guaranteed but are subject to fluctuations up or down depending in particular on the evolution of financial markets.

3. Profit sharing

There is no contractual profit sharing provided. The conditions for the allocation of technical and financial profits are indicated in the chapter “Investment supports”, paragraph I and in the chapter “The availability of savings”, paragraph I of this document.

4. Redemption option and transfer option

Membership does not include a redemption option, except in exceptional cases described in the chapter “The availability of savings”, paragraph I of this document.
Membership includes a transfer option to any other Retirement Savings Plan. The amounts are paid by the insurer within a maximum period of 2 months. The transfer modalities are indicated in the chapter “The availability of savings”, paragraph I of this document. Information regarding the table indicating the transfer values of the membership at the end of each of the first eight years is included in the document “Personalized transfer value table”.

5. Fees incurred under the contract

• Entry and payment fees:
  • 4.80% maximum of the amount of payments.
• Fees during the life of the contract:
  • 0.85% maximum per year for contract management on the portion of rights expressed in euros and on the portion of rights expressed in units of account,
  • 0.20% per year for the management of the complementary death guarantee on the portion of rights expressed in units of account,
  • 0.70% maximum per year for the management of the life annuity, deducted from the annual revaluation rate attributed to the life annuity,
  • 0.30% per year for the mortality table guarantee on the annuity, deducted from the annual revaluation rate attributed to the life annuity.
• Exit fees:
  • 2% maximum of each amount of annuity paid for the service fees of the life annuity,
  • 1% maximum of the accumulated savings for the fees of outgoing individual transfer. However, these fees are waived after a period of 5 years from the first payment into the plan or when the transfer occurs from the date of availability of the savings.
• Other fees:
  • 12 euros for the membership fee to ANCRE, subject to revision by ANCRE,
  • 0.045% per year of the accumulated savings and annuity provisions for the annual contribution to ANCRE, subject to revision by ANCRE,
  • 0.50% maximum of the amount arbitrated in case of one-off arbitration in Free Management,
  • The supports expressed in units of account may also incur their own fees. These are indicated in the annex to the contract titled “Annex of eligible supports to the contract”.

6. Recommended duration of the contract

The recommended duration of the contract depends in particular on the member's financial situation, their attitude towards risk, the applicable tax regime, and the characteristics of the chosen contract. The member is encouraged to seek advice from their insurer.

7. Designation modalities of the beneficiary(ies)

The member designates, upon joining the contract or later, the beneficiary(ies) of the contract's guarantee(s). This designation can be made in the membership form or later by amendment, by private deed or by authentic deed, in particular.
The modalities of this designation are indicated in the chapter “In the event of the member's death” of this document.
This box aims to draw the member's attention to certain essential provisions of the notice.
It is important that the member reads the notice in full and asks any questions they deem necessary before signing the membership form.

Summary

• Presentation of the Retirement Savings Plan ------------------------------------------------------------- 3
  • I. Nature of the contract 3
  • II. Purpose of the contract 3
  • III. Participants in the contract 3
  • IV. Membership in the contract 4
• Accumulation of savings --------------------------------------------------------------------------------------------- 7
  • I. Voluntary payments (Compartments C1 and C1 bis) 7
  • II. Incoming transfers 8
• Investment supports ------------------------------------------------------------------------------------------- 9
  • I. Euro support 9
  • II. Supports expressed in units of account 10
  • III. Valuation of accumulated capital 11
  • IV. Management and guarantee fees 13
• Financial management ------------------------------------------------------------------------------------------------------------ 14
  • I. Evolving financial management 14
  • II. Free management 17
  • III. Change of financial management 18
• Availability of savings -------------------------------------------------------------------------------------------- 19
  • I. Possible choices before the date of availability 19
  • II. Possible choices from the date of availability 20
  • III. Retirement benefits in the form of capital 21
  • IV. Retirement benefits in the form of life annuity 21
• In the event of the member's death ------------------------------------------------------------------------------------- 24
  • I. For the portion of rights that did not give rise to a benefit in the form of capital or life annuity or an exceptional redemption 24
  • II. For the portion of rights corresponding to a life annuity in payment at the time of the member's death 26
  • III. Transfer to the Caisse des Dépôts et Consignations 26
• Characteristics of your membership -------------------------------------------------------------------------- 27
  • I. Fees and contributions to ANCRE applicable to your membership 27
  • II. Dates of reallocation of Evolving financial management 27
  • III. Mortality tables applicable to your membership 27
  • IV. Complementary Death Guarantee (Floor Guarantee) 27
• Miscellaneous provisions ------------------------------------------------------------------------------------------------------ 28
  • I. Group insurance contract: duration - modification – termination, collective transfer 28
  • II. Information 28
  • III. Right of withdrawal 29
  • IV. Guarantee Fund for insured persons 29
  • V. General information on taxation 29
  • VI. Protection of your personal data 29
  • VII. Consumer right to oppose telemarketing 31
  • VIII. Customer relations and mediation 32
  • IX. Limitation 32
  • X. Control authority 33
  • XI. Internal sanctions

Table of contents

• I. Nature of the contract
• II. Purpose of the contract
• III. Participants in the contract
  • 1. The insurer
  • 2. The subscriber
  • 3. The member of the contract, the plan holder or the insured
  • 4. The beneficiary(ies)
• IV. Membership in the contract
  • 1. Membership in ANCRE

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XII. Unique Identifier (IDU) ADEME

Annex 1: E-mail service

• I. E-mail service: your documents in your client area
• II. Useful definitions
• III. How does this e-mail service work?
• IV. What is the duration of the e-mail service?
• V. How to terminate the e-mail service?
• VI. Proof agreement
• VII. Storage of your e-mails

Annex 2: Tax information

• I. In the event of survival
• II. In the event of death

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PRESENTATION OF THE RETIREMENT SAVINGS PLAN

(1) The European regulation 2019/2088 of November 27, 2019, on the publication of sustainability information in the financial services sector.

The characteristics and functioning of Allianz PER Horizon are described in this Information Notice, the Annex of eligible supports to the contract, and your membership form.

I. Nature of the contract

The Allianz PER Horizon contract is a supplementary professional retirement contract with individual and optional membership, whose benefits are linked to the cessation of professional activity. It falls under Section II (“Operations carried out by supplementary professional retirement funds”) of Chapter III “Supplementary professional retirement” of Title IV “Group insurance” of Book I of the Insurance Code.

It takes the form of an Individual Retirement Savings Plan as defined in Articles L224-28 and following of the Monetary and Financial Code.

Allianz PER Horizon is a multi-support contract, governed by the provisions of Chapter IV of Title II of Book II of the Monetary and Financial Code (Articles L224-1 and following) and those of the Insurance Code.

It is subscribed by ANCRE with Allianz Retraite, in accordance with the purpose defined by its statutes.

The pre-contractual and contractual relationships between the insurer, the subscriber, and the member are governed by French law. The pre-contractual and contractual documents are established in French. All documents exchanged throughout the membership will be expressed in French. If the original documents are written in a foreign language, they must be translated by a sworn translator to be communicated to the insurer.

Sustainability information

European regulation (1) provides for the communication of sustainability information on investment supports that integrate an environmental, social, or governance (ESG) characteristic (supports qualified as Article 8) and those that have a sustainable investment objective (supports qualified as Article 9).

The Allianz PER Horizon contract is qualified as Article 8 under this regulation since it offers investment supports that promote environmental or social characteristics.

The achievement of the environmental, social, or governance characteristic(s) is subject to investment in at least one support qualified as Article 8 and holding at least one of these supports for the duration of the membership.

The list of supports qualified as Article 8, Article 9, and non-qualified supports with a sustainable investment objective, as well as the proportion of each of these categories, are available in the “Annex of eligible supports to the contract.”

Additional information regarding the ESG characteristics and/or the sustainable investment objective of the relevant supports is also available in this annex.

II. Purpose of the contract

This contract aims to allow the acquisition and enjoyment of personal life rights and/or the payment of capital, released in a lump sum or in installments, payable to the member at the earliest from the date of liquidation of their pension in a mandatory basic old-age insurance scheme or from the age set in Article L161-17-2 of the Social Security Code.

III. Participants in the contract

1. The insurer

Allianz Retraite is the supplementary professional retirement fund that provides the guarantees, hereinafter referred to as “the insurer.”

2. The subscriber

The subscriber of the Allianz PER Horizon group insurance contract (No. 010-2020-001) is the NATIONAL ASSOCIATION for the COVERAGE of risks, RETIREMENT, and SAVINGS (ANCRE), placed under the control of the Prudential Control and Resolution Authority (ACPR) – 4 Place de Budapest – CS 92459 – 75436 Paris Cedex 09.

The purpose of the ANCRE association is:

• to stimulate and develop, among its members, the sense of saving and foresight, and more generally all forms of guarantees against life risks,
• to study the various possibilities for voluntary establishment of supplementary retirement, savings, and foresight schemes, to enable the implementation of these schemes, in particular by subscribing on behalf of its members to capitalization contracts, corresponding group life insurance contracts, or group insurance contracts aimed at covering additional retirement commitments,
• to inform its members about the evolution of these various schemes,
• to represent its members within the framework of the group insurance contracts it has subscribed and to defend their interests with any intervening organization and public authorities,
• to provide its members with services related to its social purpose,
• to participate in any action, association, foundation, having a purpose related to that of the association,
• to propose privileged offers that the association may obtain from partners,
• to exercise any act of solidarity towards individuals in situations of disability, illness, or great distress.

ANCRE will hereinafter be referred to as “the subscriber.”

3. The member of the contract, the plan holder, or the insured

You are the member of this contract and as such you sign the membership form and accept the clauses of this Information Notice.

The member is the holder of the Retirement Savings Plan as defined in Article L224-1 of the Monetary and Financial Code. They must be at least 18 years old at the date of membership in the plan.

You are also the insured, meaning the individual whose survival or death triggers the payment of benefits in the event of survival and in the event of death.

In the following document, you will be referred to as “the member.”

4. The beneficiary(ies)

The beneficiary(ies) is(are) the person(s) who receive(s) the benefits provided in this Information Notice.

IV. Membership in the contract

1. Membership in ANCRE

To join this contract, you must be a member of the ANCRE association.

Non-members can become members upon payment of the membership fee. The membership fee is 12 euros. It may be revised by ANCRE in accordance with its statutes.

An annual contribution is also deducted each year, under the same conditions as the fees on outstanding amounts defined in the chapter “Investment supports,” paragraph IV. In the annuity phase, the annual contribution reduces the revaluation rate of life annuities defined in the chapter “Availability of savings,” paragraph IV-5b. The annual rate of the contribution to ANCRE is specified in the chapter “Characteristics of your membership,” paragraph I.

This annual contribution may be revised by ANCRE in accordance with its statutes.

ANCRE will send you the association's statutes and the list of members of its board of directors within 45 days following your membership. You can also consult...

Mode of membership

Membership in this contract can be done either face-to-face with an Advisor or remotely using one or more remote communication techniques.

In the case of face-to-face membership with an Advisor

With your agreement, you benefit from a dematerialized membership. To do this, you agree to provide us with your email address; this will allow you to receive all contractual documents by email and benefit from the e-mail service as defined in Annex 1 of this document. The membership form will, in this case, be signed in a dematerialized manner with a secure touch signature process.

In the case of remote membership

You must return, by post, the membership form you received, accompanied by all supporting documents and, if applicable, the payment check to the following address:

Allianz
Client Life Solutions Center
TSA 81003
67018 Strasbourg Cedex.

This constitutes a provision of distance insurance operations, as defined by Article L112-2-1 of the Insurance Code, the provision of insurance operations to a member, a natural person, who acts outside any commercial or professional activity, within the framework of a distance selling or service provision system organized by the insurer or the insurance intermediary who, for this membership, uses exclusively remote communication techniques up to and including the conclusion of the membership. It is specified that the rules applicable to distance selling only apply when joining the contract for memberships that are tacitly renewed each year.

The information below concerns the member, a natural person domiciled for tax purposes in France, who joins this contract for purposes that do not fall within the scope of their commercial or professional activity, by means of distance selling.

Membership in the contract by phone, mail, or internet is governed by Articles L112-2-1 and R112-4 of the Insurance Code.

The information referred to in Article L112-2-1 of the Insurance Code is mentioned in the documents provided to you before joining the contract remotely. These documents are the Annex of eligible supports to the contract and this Information Notice.

The information provided in the aforementioned documents is valid for a period of 1 month from their receipt.

You can make the payment of the initial contribution under the conditions provided in the membership form (by direct debit, by check…). In any case, any cash payment is prohibited.

The costs related to remote communication techniques are your responsibility. Thus, you bear the costs of postal shipments, the cost of telephone communications, and the cost of internet connections, which cannot be reimbursed.

Membership formalities

To join the contract, and after having read all the membership documents, you sign the membership form.

The signature of this document constitutes membership in the contract and marks the beginning of the withdrawal period defined in the chapter “Miscellaneous provisions,” paragraph III of this document.

The signature of the membership form does not automatically trigger the effectiveness of your membership. It will take effect only if the suspensive conditions determined below are cumulatively met:

• You communicate to the insurer, within a maximum period of 30 calendar days following the date of signing the membership form, all the documents listed therein, justifying your situation and the information you have declared, in order to meet all legal obligations, particularly those related to the fight against money laundering and the financing of terrorism;
• The insurer may contact you to request additional documents necessary to meet the legal obligations related to membership;
• The insurer confirms the admissibility of the membership after reviewing all the documents provided, within 15 calendar days following their receipt.

If the suspensive conditions are met, the insurer validates your membership and records your payment after deducting the membership fee to ANCRE and net of payment fees.

The insurer's validation triggers the cashing of the check or the withdrawal of funds.

If this validation occurs during the withdrawal period mentioned in the chapter “Miscellaneous provisions,” paragraph III of this document, your payment is then fully invested in the reference support indicated in the Annex of eligible supports to the contract, based on the net asset value on the day of quotation at the date of registration. It will remain invested in this reference support until the 32nd day following the date of signing the membership form, before being arbitrated, without fees, towards the support(s) indicated on the membership form.

When all documents are received in the last days of the period set above and the insurer's validation occurs beyond the 32nd day following the date of signing the membership form, your payment is then fully invested in the reference support indicated in the Annex of eligible supports to the contract, based on the net asset value on the day of quotation at the date of registration, for 1 day before being arbitrated, without fees, towards the support(s) indicated on the membership form.

You receive an operation notice confirming the effectiveness of your membership and the actual cashing of your payment.

If the suspensive conditions are not met, the membership is canceled along with the guarantees and options chosen in the membership form. You will be informed by mail. The documents submitted will be kept for a period of 2 years from the date of cancellation of the membership.

Effective date and duration of the membership

The date of conclusion of your membership corresponds to the date of signing the membership form.

Your membership takes effect on the day of signing your membership form, if the suspensive conditions defined in 3 of this paragraph are respected and subject to the actual cashing of the first payment.

It ends in the event of withdrawal, death, outgoing transfer, total redemption, or total exit in capital or when the total amount of savings accumulated in the plan becomes zero.

It remains in force as long as an annuity is paid to the member.

Contractual documents

These include:

• this Information Notice and its future developments that will be communicated to you;
• the Annex of eligible supports to the contract;
• the document “Personalized transfer value table”;
• the membership form which indicates in particular the chosen financial management, the support(s) and the option(s) you have chosen and details the first payment.

Payment upon membership

After deducting the membership fee to ANCRE, the initial payment, net of payment fees, is fully invested in the reference support indicated in the Annex of eligible supports to the contract under the conditions specified in the chapter “Investment supports,” paragraph III of this document.

The amount of the membership fee to ANCRE is indicated in this chapter paragraph IV.1 and in the membership form.

As long as the capital remains invested in the reference support, no change of support is allowed and management fees are not deducted.

7 ACCUMULATION OF SAVINGS

Accumulation of savings

At the time of your membership, the insurer opens a retirement account in your name. This retirement account has 4 compartments designed to accommodate the different types of payments defined in Article L224-2 of the Monetary and Financial Code. These 4 compartments can be funded by cash payments (hereinafter referred to as “payments”) and by incoming transfers from retirement schemes mentioned in Article L224-40 of the Monetary and Financial Code (hereinafter referred to as “Incoming Transfers”). They are as follows:

• Deductible voluntary payments (Compartment C1): payments for which you benefit from deductibility for income tax under Article 163 quatervicies of the General Tax Code, Article 154 bis of the same Code, or Article 154 bis-0 A of this Code. This compartment can be funded by cash payments and by incoming transfer (see chapter “Accumulation of savings,” paragraph II of this document).

• Non-deductible voluntary payments (Compartment C1 bis): payments for which you waive tax deductibility by exercising the irrevocable option mentioned in paragraph 2 of Article L224-20 of the Monetary and Financial Code. This compartment can be funded by cash payments and by incoming transfer (see chapter “Accumulation of savings,” paragraph II of this document).

• Employee savings payments (Compartment C2): payments under the company's profit-sharing provided for in Title II of Book III of the third part of the Labor Code or the incentive provided for in Title I of the same Book III of the same Code, payments from companies provided for in Title III of said Book III of the aforementioned Code, the value sharing premium provided for in Article I of Law No. 2022-1158 of August 16, 2022, on emergency measures for the protection of purchasing power, and the premium for sharing the company's valuation provided for in Article 10 of Law No. 2023-1107 of November 29, 2023, on the transposition of the national interprofessional agreement on value sharing within the company, as well as rights recorded in the time savings account or, in the absence of a time savings account in the company and within limits set by Article D224-9 of the Monetary and Financial Code, amounts corresponding to unused rest days. This compartment can only be funded by incoming transfer (see chapter “Accumulation of savings,” paragraph II of this document).

• Mandatory employer and employee payments (Compartment C3): payments for mandatory employer and employee contributions made in a company retirement savings plan to which you have been affiliated on a mandatory basis. This compartment can only be funded by incoming transfer (see chapter “Accumulation of savings,” paragraph II of this document).

Each compartment is governed by its own rules regarding the tax and social treatment of payments and benefits as well as the modalities for the availability of savings.

I. Voluntary payments (Compartments C1 and C1 bis)

All voluntary payments must comply with the minimum and age conditions set by mutual agreement between the insurer and the subscriber. This information is available upon simple request from your Advisor. These payments fund compartment C1 or compartment C1 bis according to the chosen tax deductibility option. From the date of availability of savings, you can request the payment of the amounts in compartments C1 and C1 bis under the conditions provided in the chapter “The availability of savings,” paragraph II of this document.

1. Tax deductibility or non-deductibility of payments

By default, each voluntary payment is deemed to benefit from tax deductibility, under the conditions and limits set by the applicable tax regulations (see chapter “Miscellaneous provisions,” paragraph V of this document). In this case, the payment funds compartment C1. In accordance with paragraph 2 of Article L224-20 of the Monetary and Financial Code, you may, however, for each payment, irrevocably waive the aforementioned tax deductibility, and this no later than at the time of payment. In this case, the payment funds compartment C1 bis. The assessment of the eligibility of deductible voluntary payments according to the tax regime you have chosen, as well as compliance with the envelopes and ceilings specific to each tax scheme, is solely your responsibility.

2. Payment modalities

a. Regular payments
You can make payments regularly by direct debit from a bank or postal account in your name. You choose the frequency that suits you best (monthly, quarterly, semi-annually, annually) and can set them up from the time of membership or during the membership. The deductibility or non-deductibility of these payments is defined at the time of setting up these regular payments. If you wish to change your choice in terms of tax regime, you will need to stop your regular payments and set up new ones with the new deductibility or non-deductibility option. At any time, you can modify the amount and/or frequency of the regular payments, interrupt them, or resume them (the modification takes effect the month following the date of registration of the request). Each year on January 1, the amount of regular payments is automatically indexed based on the evolution of the social security ceiling defined in Article L241-3 of the Social Security Code. You can refuse this indexing or request to benefit from it again at any time, by simple written request to the Allianz Client Solutions Center. The modification will take effect the following year, provided that your request has been received at the Allianz Client Solutions Center before December 1.

b. Free payments
You can make one or more free payment(s) at any time, alone or in addition to regular payments. Any payment made before the date of validation of the membership by the insurer can only be invested after the registration of the membership. This payment, after deduction of payment fees, is invested under the same conditions as the payment upon membership specified in the chapter “Presentation of the Retirement Savings Plan,” paragraph IV. Any payment made during the period when the membership payment is invested in the reference support is also invested in this support. At the end of the investment period on the reference support, the insurer arbitrates, without deduction of fees, the capital constituted on this support towards the support(s) indicated on the membership form and in accordance with the chosen financial management.

3. Payment fees

Fees are deducted from payments at the rate specified in the chapter “Characteristics of your membership,” paragraph I of this document.

II. Incoming transfers

Your individual rights in the process of being constituted on another retirement savings plan or on another retirement scheme mentioned in Article L224-40 of the Monetary and Financial Code are transferable to your Retirement Savings Plan. For schemes to which affiliation would be mandatory, this transfer is only possible if...

you are no longer required to join.

Depending on the nature of the transferred amounts, an incoming transfer may fund one or more of the four compartments of your Retirement Savings Plan (C1, C1 bis, C2, and C3). The transfer request must be addressed to the insurer. Practical modalities are available from your advisor.

9 INVESTMENT SUPPORTS

Investment supports

This contract allows investment in different supports expressed in units of account or in euros. The various supports in force are detailed in the Annex of eligible supports to the contract that is provided to you with this Information Notice.

Environmental, climatic, social, and corporate governance factors

In terms of investment strategy for assets, “extra-financial” indicators related to environmental, social, and corporate governance ambitions will be implemented, starting with climate indicators. These developments align with the environmental, social, and governance (ESG) ambitions of the insurer and will allow for proper consideration of these criteria in strategic choices related to strategic asset allocations.

I. Euro support

1. Allianz Fonds Euros support

Expressed in euros, the Allianz Fonds Euros support of this contract is backed by the Long-Term Retirement Asset of the insurer. The Long-Term Retirement Asset is an asset grouping a set of commitments of the insurer denominated in euros under retirement insurance contracts. It is invested in diversified financial products and mainly in fixed-income instruments (e.g., bonds…). It is managed by Allianz's specialized teams in compliance with the contractual commitments of the insurer towards the insured and according to the rules of the Insurance Code.

2. Individual allocation of profit sharing and minimum guaranteed annual rate

The Allianz Fonds Euros support benefits from profit sharing with a minimum revaluation rate defined at the beginning of each year, according to the following modalities:

a. Minimum annual revaluation rate in case of exits
In the event of total exit from the Allianz Fonds Euros support during the year for one or more compartments of your retirement account, the capital invested in this support will be subject to a revaluation rate equal to at least the minimum guaranteed rate of the year applied pro rata temporis. The revaluation rate and the applicable minimum guaranteed annual rate are determined by the insurer at the beginning of each year and will be communicated to you by the insurer in your annual situation statement.

b. Determination of the profit sharing of the Allianz Fonds Euros support
Each year, after consulting ANCRE, the insurer determines and finalizes the profit sharing based on technical and financial results and in compliance with legal and regulatory constraints on the minimum participation to be distributed. The insurer informs the supervisory committee of this Retirement Savings Plan of the amount of technical and financial profit sharing and consults it on the modalities of its distribution among the members. The insurer then decides on the amount of technical and financial profit sharing to be immediately allocated to this contract and any recoveries on the provision for profit sharing constituted previously. Once the deduction of the interests credited to the mathematical provisions during the financial year corresponding to the revaluation at the minimum guaranteed annual rate has been made, this technical and financial profit sharing is distributed between an immediate allocation with a value date set at December 31 and a provision for profit sharing.

c. Individual allocation of profit sharing
On December 31 of each financial year, your capital constituted on the euro support is definitively revalued, pro rata temporis, at the profit sharing rate allocated to this Retirement Savings Plan under the conditions described above. This revaluation is made subject to the presence of a capital constituted on the Allianz Fonds Euros support on that date.

II. Supports expressed in units of account

By joining this contract, you benefit from a wide selection of supports expressed in units of account. Each unit of account of a support represents a financial instrument held by the insurer. During the duration of your membership in the contract, the list of supports offered may evolve, notably due to the disappearance of a support, the addition of a support, the removal of a support, or the replacement of a support. The insurer may also suspend or restrict operations on certain units of account. Consequently, the allocation of your payments or your accumulated capital among the different supports may be modified under the conditions set forth below.

1. Disappearance of a support expressed in units of account

In the event of the disappearance of a support, the insurer arbitrates, without fees, the capital constituted on this support towards a support of the same nature, so that your rights are preserved in accordance with the provisions of Article R131-1 of the Insurance Code. You will be informed in accordance with the provisions of Article L141-4 of the Insurance Code. In the absence of an immediately available support of the same nature, the capital constituted on the support that has disappeared will be arbitrated without fees towards the monetary support proposed in the contract (or in the absence of it, towards the euro support). After a maximum period of two months, the capital constituted will be arbitrated without fees towards the support of the same nature that has been added to the contract. Scheduled operations (regular payments, semi-annual reallocations, scheduled partial capital exits) prior to this disappearance will continue on the support of the same nature. In the absence of a support of the same nature added within two months, these operations will continue on the monetary support proposed in the contract (or in the absence of it, on the euro support). As soon as the support of the same nature is added to the contract, the scheduled operations will continue on this support. In the absence of eligibility of the monetary support (or the euro support) for scheduled operations, these will cease. In the context of Free Management, you have the option to request the insurer that the capital constituted be arbitrated without fees towards another support of your choice proposed in the contract.

2. Addition and removal of a support expressed in units of account

During the duration of your membership in the contract and in agreement with the subscriber, the insurer reserves the right to evolve the list of supports:

• by proposing new supports,
• by removing supports. In this case, if you have selected a removed support, you may keep it. However, you will no longer be able to make payments or arbitrations into it. These additions or removals will be subject to written information specifying, if applicable, the particular rules that will apply to them.

3. Replacement of a support expressed in units of account

If one of the circumstances defined in the Annex of eligible supports to the contract occurs, the insurer may be led to replace one (or more) support(s) proposed in the contract with a monetary support proposed in the contract (or in the absence of it, with the euro support). The insurer then arbitrates, without fees, the capital constituted towards this replacement support. You will be informed of this replacement no later than 3 months before this arbitration.

Free management

In the context of Free Management, you then have the option to request the insurer that the capital constituted be arbitrated, without fees, during the 3-month period preceding the replacement, towards another replacement support of your choice proposed in the contract.

Scheduled operations (regular payments, semi-annual reallocations, scheduled partial capital exits) prior to this replacement will continue on the selected support, provided that this support is eligible for said operations. In the absence of eligibility, the scheduled operations on said support will cease.

Suspension/restriction of operations on certain supports expressed in units of account

When a collective investment scheme constituting an eligible unit of account in the contract is subject to a capping mechanism, suspension of redemptions or issuance of its shares or stocks, under the conditions provided by the Monetary and Financial Code, the insurer may also activate the suspension or restriction mechanism for operations, as provided in Article L131-4 of the Insurance Code.

All operations of payment, transfer, redemption, arbitration, payment of benefits in the event of survival or death, and conversions into annuities on the units of account impacted by this mechanism are concerned. This restriction will be subject to information under the conditions provided by the Insurance Code.

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INVESTMENT SUPPORTS

III. Valuation of the constituted capital

The constituted capital is expressed:

• in units of account for the eligible supports constituted of financial instruments,
• in euros for the Allianz Fonds Euros support.

The constituted capital varies according to the valuation of the different supports according to the modalities described in this article, and events affecting your membership such as new payments, exceptional redemptions, arbitrations, capital exits, or the capital constitutive of annuities. It is also reduced by the fees and/or contributions defined in the chapter “Characteristics of your membership,” paragraph I of this document.

1. Valuation of the constituted capital in units of account

The constituted capital on supports in units of account is expressed in units of account. On a given date, the euro equivalent of the constituted capital on the supports in units of account is equal, for each support, to the number of units of account recorded on the support, multiplied by the net asset value in euros of the unit of account on the calculation date.

The net asset value is increased by entry fees or decreased by exit fees of the financial instrument when it provides for them. In the event of income detachment by one of the financial instruments representing a unit of account, the total net income is distributed in the form of additional units of account of the same support.

This distribution will be attributed to each insured provided that, on the date of attribution of the additional units of account, the membership is still ongoing and that there is a capital allocated to the concerned support. If this support is no longer offered on that date, the distribution will be made on a support of the same nature. This distribution is made on the same day as the payment of the income.

The insurer only commits to the number of units of account, net of all fees and/or contributions to ANCRE, but not on their value. The value of these units of account, which reflects the value of underlying assets, is not guaranteed but is subject to fluctuations up or down depending in particular on the evolution of financial markets.

2. Valuation of the constituted capital on the Allianz Fonds Euros support

For the euro support, the constituted capital on this support is equal to:

• the sum of payments and incoming arbitrations to the Allianz Fonds Euros support,
• decreased by exceptional redemptions, partial capital exits, capital constitutive of life annuities, and outgoing arbitrations from the Allianz Fonds Euros support,
• increased by the profit sharing defined in the chapter “Investment supports,” paragraph I of this document,
• decreased by the fees and/or annual contributions to ANCRE defined in the chapter “Characteristics of your membership,” paragraph I of this document.

3. Valuation dates of events on your membership

In this table, the “registration day” corresponds to the day of registration by the Allianz Client Services Center.

Events	Valuation date (investment) or cessation of valuation date (disinvestment) for operations concerning the Allianz Fonds Euros support	Valuation date (net asset value) for operations concerning supports expressed in units of account
Initial payment upon membership	The day of confirmation of acceptance by the insurer of the effectiveness of the membership	-
Free payment	- if the Allianz Fonds Euros support is the only one concerned: the day of registration of the event request, - if supports expressed in units of account are also concerned: the first common quotation day of the other supports following the day of registration of the event.	The first common quotation day following the day of registration of the event.
Regular payments	- if the Allianz Fonds Euros support is the only one concerned: the day of processing the regular payment, - if supports expressed in units of account are also concerned: at the earliest, the day of processing the regular payment if it is a quotation day or the last quotation day preceding the day of processing the regular payment and at the latest, the first common quotation day following the day of processing the regular payment.	At the earliest, the day of processing the regular payment if it is a quotation day or the last quotation day preceding the day of processing the regular payment and at the latest, the first common quotation day following the day of processing the regular payment.
Reallocation of savings in the context of evolving financial management	At the earliest, the day of processing the reallocation if it is a quotation day or the last quotation day preceding the day of processing the reallocation and at the latest, the first common quotation day following the day of processing the reallocation.	-
Arbitrations made in the context of changing financial management, changing the grid of evolving financial management	At the earliest, the day of processing the arbitration if it is a quotation day or the last quotation day preceding the day of processing the arbitration and at the latest, the first common quotation day following the day of processing the arbitration.	-
One-off arbitration	The first common quotation day following the day of registration of the arbitration request. The arbitration operation takes place simultaneously on all supports: the exit from the selected supports in disinvestment and the entry into the newly chosen supports for investment are carried out on the same day.	-
Partial or total redemption	-	-
One-off partial or total exit in capital	-	-
Capital constitutive for setting up a life annuity	-	-
Declaration of death	- if the Allianz Fonds Euros support is the only one concerned: the day of registration of the event, - if supports expressed in units of account are also concerned: the first common quotation day following the day of registration of the event.	-

Event registration

The first common quotation day following the day of registration of the event. This day cannot be more than thirty days later than the date of registration by the insurer of the event.

Scheduled partial exit in capital

• If the Allianz Fonds Euros support is the only one concerned: the day of processing the scheduled partial exit in capital.
• If supports expressed in units of account are also concerned:
  • At the earliest, the day of processing the scheduled partial exit in capital if it is a quotation day or the last quotation day preceding the date of processing the scheduled partial exit in capital.
  • At the latest, the first common quotation day following the date of processing the scheduled partial exit in capital.

At the earliest, the day of processing the scheduled partial exit in capital if it is a quotation day or the last quotation day preceding the day of processing the scheduled partial exit in capital and at the latest, the first common quotation day following the date of processing the scheduled partial exit in capital.

Priorities in case of simultaneous requests

• In case of simultaneous requests for one-off arbitration and free payment, the one-off arbitration is performed as a priority.
• In case of simultaneous requests for one-off arbitration and exceptional partial redemption, the exceptional partial redemption is performed as a priority.
• In case of simultaneous requests for one-off arbitration and benefits (partial exit in capital, withdrawal of the capital constitutive for setting up a life annuity), the benefit is performed as a priority.
• In case of simultaneous requests for setting up or changing evolving financial management and free payment or one-off arbitration, the free payment or one-off arbitration is treated as a priority.

If the insurer is unable to buy or sell the financial instrument concerned by the operation (for example, in the event of a lack of quotation or liquidity), the valuation date is postponed by the number of days necessary for the purchase or sale of this financial instrument.

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INVESTMENT SUPPORTS

IV. Management and guarantee fees

On the Allianz Fonds Euros support, management fees are deducted once a year at the end of the year on the revalued capital on this support, according to a pro rata temporis calculation taking into account investments (from voluntary cash payments, incoming transfers, and entries by arbitration) and disinvestments (from redemptions, exits by arbitrations, capital exits, or capital constitutive of life annuities). In the event of total exit from the Allianz Fonds Euros support for a given compartment, management fees are deducted at the time of this exit.

On supports expressed in units of account, management fees are expressed in terms of the number of units of account. They are deducted quarterly and reduce the number of units of account constituting the capital.

The calculation of fees is made by applying the quarterly management fee rate to the number of units of account of the membership held at the time of the quarterly deduction. The mechanism is identical for the fees of the complementary death guarantee.

The rates and modalities for the deduction of these different fees are detailed in the chapter “Characteristics of your membership,” paragraph I of this document.

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FINANCIAL MANAGEMENT

Financial management

Two types of financial management are available in this contract: Evolving financial management and Free management. Unless expressly decided otherwise by you, the financial management retained for your membership is that corresponding to Evolving financial management – “balanced retirement horizon” grid.

I. Evolving financial management

In accordance with the regulations in force, your plan gives you access to different grids of Evolving financial management allowing you to gradually reduce financial risks while investing in supports suitable for a long-term horizon.

They guarantee a gradual decrease in the share of high or intermediate risk supports and a gradual increase in the share of supports presenting a low-risk investment profile, as you approach the expected age of requesting the benefits you have set.

Indeed, upon your membership, you specify this expected age of requesting benefits which is taken into account for the Evolving financial management retained. You can modify this age at any time. In any case, this age cannot be lower than the one you will have at the date of availability of the savings mentioned in the chapter “Availability of savings.”

However, after your membership, if you can justify that you benefit from legal or regulatory provisions allowing you to liquidate your retirement in a mandatory old-age insurance scheme before this age, the insurer may, after reviewing your request, agree to retain a lower expected age.

The Allianz PER Horizon contract offers the following grids of Evolving financial management:

• Five grids proposed based on the level of risk and expected return:

  • Evolving financial management - “secure retirement horizon” grid;
  • Evolving financial management - “prudent retirement horizon” grid;
  • Evolving financial management - “balanced retirement horizon” grid;
  • Evolving financial management - “dynamic retirement horizon” grid;
  • Evolving financial management - “offensive retirement horizon” grid.

• Five grids proposed based on the level of risk, expected return, and integrating supports whose investment strategy is oriented towards themes related to social and/or environmental issues:

  • Evolving financial management - “secure retirement horizon Future” grid;
  • Evolving financial management - “prudent retirement horizon Future” grid;
  • Evolving financial management - “balanced retirement horizon Future” grid;
  • Evolving financial management - “dynamic retirement horizon Future” grid;
  • Evolving financial management - “offensive retirement horizon Future” grid;

The five “retirement horizon Future” grids above will be available from May 6, 2025.

For each of these grids of Evolving financial management and according to the remaining investment duration until the expected age of requesting the benefits you have set:

• The level of security is determined by the percentage of investment allocated to low-risk supports. These supports include the euro support and units of account supports presenting a synthetic risk and return indicator (SRI) of 2 or less.

• A portion of your payments, up to the minimum percentage of investment set by regulation, is directed towards units of account supports that are unlisted or invested in shares or stocks of SMEs/ETIs and eligible for the contract.

If you exceed the expected age of requesting the benefits you have set, your cash payments and incoming transfers will be invested according to the investment duration “≤1 year” of the grid you have chosen.

In the context of Evolving financial management, you delegate to your insurer the financial management of your savings.

Plan assets

Assets presenting a low-risk investment profile are those for which a risk and return indicator calculated by the insurer according to a method analogous to that provided in the aforementioned regulation is less than or equal to 2;
– commitments expressed in euros.
(2) Article 1 of the decree of August 7, 2019, implementing the reform of retirement savings.

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15 FINANCIAL MANAGEMENT

For each of the aforementioned grids, your insurer, relying on the expertise of the Allianz group and after informing the subscriber, may be led to modify the investment supports and/or their allocation within the limits of the low-risk support ranges defined below. The various supports in force are detailed in the Annex of eligible supports to the contract.

Every six months, your insurer automatically reallocates for free, so that the allocation of your savings among the different supports of the grid you have chosen complies with the proportions provided by it. To determine this allocation, the exact age on the date of reallocation and the expected age of requesting the benefits you have set are taken into account.

These reallocation operations are recorded by your insurer. The dates of these reallocations are specified in the chapter “Characteristics of your membership,” paragraph II of this document.

With Evolving financial management, you do not have the option to make arbitrations between the supports comprising the grid of Evolving financial management you have chosen.

1. Evolving financial management - “secure retirement horizon” and “secure retirement horizon Future” grids

The Evolving financial management - “secure retirement horizon” and “secure retirement horizon Future” grids are suitable for investors who accept a very low risk of capital loss in exchange for potentially low performance.

The goal is to secure savings very quickly, primarily by making investments in low-risk supports, while accepting, marginally, investments in risky assets to boost performance.

Evolution of investment over time

2. Evolving financial management - “prudent retirement horizon” and “prudent retirement horizon Future” grids

The Evolving financial management - “prudent retirement horizon” and “prudent retirement horizon Future” grids are suitable for investors who accept a low risk of capital loss in exchange for potentially low performance.

The goal is to secure savings quickly, primarily by making investments in low-risk supports, while accepting, marginally, investments in risky assets to boost performance.

Percentages of low-risk supports

Number of years before the expected age of requesting benefits	Min regulatory	Prudent(1)	Min contract	Max contract
> 25 years	30%	35%	100%
25-21 years	30%	35%	100%
20-16 years	30%	55%	100%
15-11 years	30%	65%	100%
10-6 years	60%	70%	100%
5-3 years	80%	80%	100%
2 years	90%	90%	100%
≤ 1 year	90%	90%	100%

(1) Article 1 of the decree of August 7, 2019, implementing the reform of retirement savings.

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3. Evolving financial management - “balanced retirement horizon” and “balanced retirement horizon Future” grids

The Evolving financial management – “balanced retirement horizon” and “balanced retirement horizon Future” grids are suitable for investors who accept a moderate risk of capital loss in exchange for potentially average performance.

The goal is to achieve the right balance between performance and risk by making diversified investments across different asset classes.

Evolution of investment over time

Percentages of low-risk supports

Number of years before the expected age of requesting benefits	Min regulatory	Balanced(1)	Min contract	Max contract
> 25 years	0%	0%	30%
25-21 years	0%	10%	60%
20-16 years	0%	30%	70%
15-11 years	0%	40%	90%
10-6 years	20%	50%	100%
5-3 years	50%	60%	100%
2 years	70%	70%	100%
≤ 1 year	70%	70%	100%

(1) Article 1 of the decree of August 7, 2019, implementing the reform of retirement savings.

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4. Evolving financial management - “dynamic retirement horizon” and “dynamic retirement horizon Future” grids

The Evolving financial management – “dynamic retirement horizon” and “dynamic retirement horizon Future” grids are suitable for investors who accept a significant level of risk of capital loss in exchange for a high expected performance.

The goal is to invest heavily in equity markets until a period between 10 and 15 years before the expected age of requesting benefits, in order to take advantage of their financial dynamism, while taking on high risk.

Evolution of investment over time

Percentages of low-risk supports

Number of years before the expected age of requesting benefits	Min regulatory	Dynamic(1)	Min contract	Max contract
> 25 years	0%	0%	30%
25-21 years	0%	0%	40%
20-16 years	0%	0%	60%
15-11 years	0%	30%	70%
10-6 years	0%	40%	80%
5-3 years	30%	50%	90%
2 years	50%	60%	90%
≤ 1 year	50%	60%	90%

(1) Article 1 of the decree of August 7, 2019, implementing the reform of retirement savings.

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5. Evolving financial management – “offensive retirement horizon” and “offensive retirement horizon Future” grids

The Evolving financial management - “offensive retirement horizon” and “offensive retirement horizon Future” grids are suitable for investors who accept a very high level of risk of capital loss in exchange for a very high expected performance.

The goal is to maximize the valuation of savings by making predominantly investments in equity markets until a period between 5 and 10 years before the expected age of requesting benefits, while accepting the risks associated with market fluctuations.

Evolution of investment over time

Percentages of low-risk supports

Number of years before the expected age of requesting benefits	Min regulatory	Offensive(1)	Min contract	Max contract
> 25 years	0%	0%	30%
25-21 years	0%	0%	40%
20-16 years	0%	0%	60%
15-11 years	0%	30%	70%
10-6 years	0%	40%	80%
5-3 years	30%	50%	90%
2 years	50%	60%	90%
≤ 1 year	50%	60%	90%

(1) Article 1 of the decree of August 7, 2019, implementing the reform of retirement savings.

Benefit request

Min regulatory

Age	Min	Contract	Max contract
> 25 years	0 %	0 %	20 %
25-21 years	0 %	0 %	20 %
20-16 years	0 %	0 %	40 %
15-11 years	0 %	0 %	60 %
10-6 years	0 %	40 %	80 %
5-3 years	30 %	50 %	90 %
2 years	50 %	60 %	90 %
≤ 1 year	50 %	60 %	90 %

(1) Article 1 of the decree of August 7, 2019, implementing the reform of retirement savings.

Minimum supports

Low risk

Age	Minimum supports
> 25 years	80 %
25-21 years	0 %
20-16 years	0 %
15-11 years	60 %
10-6 years	0 %

Risky supports

Age	Min. regulatory (1)
> 25 years
25-21 years
20-16 years
15-11 years
10-6 years

II. Free management

You have the option to choose Free management at any time during your membership. With Free management, you can freely choose to invest in:

• the Allianz Fonds Euros euro support and,
• the supports in units of account proposed in the contract.

You select for this the supports, provided that each support expressed in units of account meets a minimum investment threshold of 10%.

1. Investment of payments and incoming transfers

You choose the allocation among the different supports proposed in the contract for each free payment or incoming transfer. Without specification on your part during a free payment or incoming transfer, the allocation among the different supports will be that of the last regular payment, failing which it will be that of the last free payment, or failing which it will be that of the payment upon membership (excluding supports expressed in units of account constituted of complex financial instruments and/or of the “formula funds” type).

If you have opted for regular payments, you can modify the allocation among the different supports at any time. The modification takes effect the month following the date of registration of the request by the insurer.

2. Possibility of arbitration between supports

a. One-off arbitration between supports

At the end of the investment period on the reference support defined in the chapter “Presentation of the Retirement Savings Plan,” paragraph IV.3 of this document, you can modify the allocation of your savings among the different supports in force offered (excluding reference support) at any time. The amount of your savings is then allocated according to the new selection. The valuation dates retained for this operation are those defined in the chapter “Investment supports,” paragraph III of this document.

b. Possible restriction of arbitration out of the Allianz Fonds Euros support

In the event that it is found that the maximum rate between the monthly average of the TEC10 index (1) of the previous month and the monthly average of the Eonia index (2) of the previous month exceeds the average over 10 years of the TEC10 index at the end of the previous month increased by 1.5%, the insurer may suspend the option of arbitration out of the Allianz Fonds Euros support. This suspension will only take effect once you have been informed. You will be informed under the same conditions of the reinstatement of the arbitration option. In any case, this suspension of the arbitration option cannot exceed one year.

c. Possible restriction of arbitration of supports expressed in units of account

The insurer reserves the right to suspend any arbitration request on one or more supports in units of account in the event of a split of one or more supports in units of account as referred to in Articles L214-7-4, L214-24-33, L214-8-7, or L214-24-41 of the Monetary and Financial Code. This restriction will be subject to written information specifying, if applicable, the particular rules that will apply to them.

d. Fees for one-off arbitration

The first one-off arbitration of the calendar year is free. Subsequent arbitrations incur fees, the rate of which is specified in the chapter “Characteristics of your membership,” paragraph I of this document. The amount of these fees is deducted at the time of arbitration, reducing the invested amount.

III. Change of financial management

You have the option to change financial management at any time during your membership. This change of financial management may consist of:

• either a change of grid of Evolving financial management,
• or a transition from Evolving financial management to Free management, or vice versa.
• or a change of the expected age of requesting benefits within the framework of Evolving financial management.

The maximum number of changes of financial management per calendar year is two. When the new financial management is Evolving financial management:

• payments are invested in accordance with the new financial management, from the registration of the request;
• the capital constituted at the date of change of financial management is arbitrated in accordance with the new financial management under the conditions provided in the chapter “Investment supports,” paragraph III. When the new financial management is Free management, the arbitration of the constituted capital is only done at your request. It is carried out on the date of registration of the request under the same conditions as a one-off arbitration.

(1) TEC10: Constant Maturity Rate: actuarial yield rate of a fictitious Treasury value whose lifespan would at every moment equal 10 years. It is published by the French Treasury Agency.
(2) Eonia: Euro OverNight Interest Average: representative rate of the money market on a day-to-day basis. The Eonia rate is calculated by adding 8.5 basis points to the €STER rate. The €STER (or Euro Short-Term Rate) is the short-term rate in euros that reflects the costs of borrowing on a day-to-day basis in euros unsecured for banks in the eurozone. The rates of the €STER and Eonia are published by the Bank of France.

Availability of savings

Attention: In the event of acceptance of the benefit of the membership by the designated beneficiary(ies) in the event of death, you must obtain their prior agreement to carry out an exceptional redemption or an individual transfer.

The acquired rights become available at the earliest:

• either from the date of liquidation of your pension in a mandatory old-age insurance scheme;
• or from the date on which you reach the legal retirement age mentioned in Article L161-17-2 of the Social Security Code.

From this date, you can request the payment of your retirement benefits at any time. From the 5th year preceding your legal retirement age, you can inquire with your insurer, by any means, to inform you about your rights and the modalities of restitution of the savings appropriate to your situation and, if applicable, to confirm the pace of reduction of financial risks within the framework of Evolving financial management. Six months before the start of the aforementioned 5-year period, your insurer will inform you of this possibility.

I. Possible choices before the date of availability

1. Exceptional redemptions

a. Exceptional redemptions “life accidents”

You can request the redemption of your individual rights if you find yourself in one of the cases of life accidents listed in Article L224-4 of the Monetary and Financial Code. To benefit from the redemption, you will need to provide your insurer with the supporting documents corresponding to your situation:

• The death of your spouse or partner linked by a civil solidarity pact; The death certificate and an official document justifying your kinship with the deceased (copy or extract of birth certificate, photocopy of the family record book, marriage certificate if you were their spouse…).
• Your disability, that of your child(ren), your spouse, or your partner linked by a civil solidarity pact. This disability is assessed in the sense of 2° and 3° of Article L341-4 of the Social Security Code.

The notification of classification in disability of the 2nd or 3rd category under Article L341-4 of the Social Security Code under a mandatory scheme and, in the case of the disability of your spouse, your children, or your partner linked by a civil solidarity pact, an official document justifying the kinship with you (copy or extract of birth certificate, photocopy of the family record book, marriage certificate if you were their spouse…).

• Your over-indebtedness situation, in the sense of Article L711-1 of the Consumer Code;

  • A document certifying your over-indebtedness situation in the sense of Article L711-1 of the Consumer Code.

• The expiration of your unemployment insurance rights;

  • A document certifying the expiration of your unemployment insurance rights.

• The fact that you, who have held the position of administrator, member of the management board, or member of the supervisory board and have not liquidated your pension in a mandatory old-age insurance scheme, have not held an employment contract or a social mandate for at least two years from the non-renewal of your social mandate or your revocation;

  • A sworn statement dated and signed certifying non-liquidation of your old-age pension from the mandatory scheme and absence of employment contract and social mandate for at least two years from the non-renewal of your mandate or your revocation, as well as a certified copy of the document proving the non-renewal of your mandate or your revocation.

• Your cessation of non-salaried activity following a court judgment of liquidation in application of Title IV of Book VI of the Commercial Code or any situation justifying this redemption according to the President of the Commercial Court with which a conciliation procedure mentioned in Article L611-4 of the same Code is instituted, which makes the request with your agreement.

  • A copy of the liquidation judgment or the letter from the President of the Commercial Court requesting the redemption.

In all cases, you must attach to your request for exceptional redemption, in addition to the supporting documents mentioned above:

• a copy of a document justifying your civil status and,
• a bank identity statement.

20 AVAILABILITY OF SAVINGS

The early redemption of your rights occurs in the form of a single payment, which covers, at your choice, all or part of your rights that may be redeemed. A partial redemption will be made pro rata to the capital constituted on each of the investment supports.

b. Exceptional redemption “acquisition of the principal residence”

In accordance with the provisions of Article L224-4 of the Monetary and Financial Code, you can also request the redemption of your individual rights listed in...