cost transparency is improving, Actualité / Actu Epargne

Among the few changes that took place at the beginning of June, a small advance is noteworthy in the part of the transparency of the repayments from the life insurance contracts and often PER.

As of today, Wednesday, June 1, 2022, the major distributors and producers of these investments have promised to publish on their websites a summary table of the costs of their contracts.

Expressed as a percentage of the courses or in a flat rate, these costs are classified by operation and support category (annual management costs of distributors and management companies, one-off costs per operation, piloted management costs …).

Presented according to a standardized model, and indicating the average of the expenses incurred in the last financial year, this document will not allow to know exactly the amount of expenses incurred for the current year.

But savers will still be able to get a first idea, in a relatively accurate range, of what it costs them to invest, so what they really earn – net performance at all costs.

A welcome standardization to compare offers

In addition, this standardization effort will make it possible to establish a comparison of the offers on the market, and, to a lesser extent, to avoid the option for more supports and loads.

This new table, issued by a place agreement of the profession signed in February, is the result of a request from the Minister of Economy Bruno Le Maire, who had denounced the costs a few months ago ” excessive Practiced by distributors on PERs, which average more than 3%, not counting those of UC management companies hosted in contracts.

The agreement remains a commitment to good practice, not a legal obligation. This morning, the majority of the dozen websites of major life insurance distributors and PERs that we consulted had not yet made this fee chart appear. This one is already online, however, for a handful of them, such as AG2R La Mondiale and Société Générale Assurance.

Next steps: display all the mills in the account units

In the coming weeks, the information on these expenses will be further strengthened: a ministerial order provides that from July 1, the total expenses of the units of account during the last closed financial year (constituting the sum of management fees ). taken from the unit of account and recurring fees charged to the contract), expressed as a percentage, must appear in the pre-contractual information of life insurance contracts, capitalization contracts and PERs.

Et à compter du 1er janvier 2023, the mention of these total costs will be mandatory for each unit of account in the annual information campaign documents.

This information will be much more accurate, which is displayed in the “expense chart” of the distributors, the cars of the amounts displayed will be the real ones taken for each UC of the previous year and did not pass a simple average by “type” of unit of account. (“Fund shares”, “fund obligations”, “fonds immobiliers”).

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