The annual administration fees for technical management, book-keeping, and access to the communication secured web platform Employee Benefits Center (EBC) are invoiced periodically on an annual flat-fee basis, based on the number of members and the complexity of the services provided. The fees of the supervisory authority (ASFIP), external auditor, accredited pension expert, and the Board of Trustees are included in this flat-fee. When affiliation begins or ends during the year, these fees are invoiced pro rata temporis.
Reinsurance and distribution
Reinsurance of death and disability risks is invoiced periodically on a flat-rate premium basis calculated at 1st January each year. This premium includes management fees for reinsurance, distribution activities, takeover of new clients, presentation of annual accounts to the Pension Committee, communications to HR departments and members, day-to-day personalized support for HR departments and members (services or projects not included in the ordinary management are invoiced separately), changes to the pension plan(s) and absence management (incapacity for work).
All external brokerage fees shall be transparent and agreed in advance between the Fund’s Pension Committee and the approved partner, and further validated by the Foundation.
Asset administration and financial compliance
Asset management fees are under the direct responsibility of the Foundation (cash management, monthly portfolio rebalancing, distribution of investment performance, investment accounting, online reporting, calculation of investment fluctuation reserves, etc.) and are calculated based on the volume of assets under management as well as the complexity of the services provided to each Pension Fund. These fees include the services related to the supervising of the compliance of investments.
Deposit fees, management fees and investment advisory fees depend on the terms and conditions of external partners.
Charges related to actuarial and consulting services outside the ordinary regulatory framework (partial liquidation, specific actuarial studies, personalized asset-liability report, legal advice, etc.) are invoiced on an effective cost basis.