The savings association with 760,000 members holding an Afer contract held its annual general meeting on Thursday 29 June. And adopted several new features, including the launch of two new unit-linked products, and the confirmation of management under mandate available for the end of 2023.
Strengthen the financial performance of a quarantine contract. This could be a summary of the main new features adopted or confirmed at Afer’s general meeting.
A few months after announcing a 2022 return rather below expectations, 2.01% against 2% on average for the entire life insurance market, Afer has adopted new measures aimed at making its contract more dynamic or more adapted to the modernizations carried out by the competition.
Afer life insurance: We are not going to do Madoff to get the best rate
Discretionary management and two new units of account
A confirmation to start: the management under mandate of the investments of the multi-support contract, voted last year by the members, will be proposed to the last quarter of 2023to quote the press release issued following the GA.
The letter from Afer members in May provided other details: it would be an option that you would remain free to choose for the amount you would like [donc pas ncessairement l’intgralit de votre contrat, NDLR].
And the launch of two new units of account: support Afer Environmental Actionswhich invests internationally in the energy transition sector and Afer Actions Employmentwhich invests in the economy and the creation of local jobs.
Reboost the performance of the fund in euros
Among the 11 new resolutions proposed by the board of directors and adopted at the general meeting, a measure aimed at boosting the performance of the fund in euros, led by Abeille Assurances (Aema group, formerly Aviva France): a strengthening of the role of the CSGF (Comité funds management oversight) with the aim ofimprove fund performance in euros and supports, without further details.
But also the lengthening of the floor guarantee for all supports in units of account and eurocroissance: it goes from 75 to 80 years, from 2024. The minimum guarantee therefore adapts to the lengthening of life expectancy: Your beneficiaries in the event of death are guaranteed to receive at least the sums invested net of fees on payment (subject to deduction of partial redemptions and arbitrages), regardless of market trends.
Clearly, in the event of death before your 80th birthday, once this extension comes into force in 2024, your beneficiaries will recover your capital paid in units of account. The cost of the floor guarantee (0.055% each year) is unchanged.
Finally the unit-linked management fees will no longer be deducted from your dividends but from now on by reduction in the number of shares, starting in 2024.
More information on the Afer multi-support contract
News also for the Afer PER
The members’ GA also voted on various improvements to the retirement savings plan offered via the savings association, PERin Afer. Among others:
- the possibility of subscribing to PERin up to age 80, whether the pension is liquid or not
- the ability, free of charge, to set up an investment plan or scheduled redemptions
- the overhaul of the PERin unit-linked range in the search for better performance.