BPCE - 2019 Universal Registration Document
REPORT ON CORPORATE GOVERNANCE
RULES AND PRINCIPLES GOVERNING THE DETERMINATION OF PAY AND BENEFITS
Pay component Principles and criteria adopted Supplementary pension plan The Chairman of the Management Board is entitled to:
the mandatory CGP collective supplementary defined-contribution pension plan for all BPCE employees and by extension applicable • to BPCE company directors. The contribution rate is 6% from Bracket A and 4% from the pensionable portion of pay in excess of Bracket A; and capped at eight times the annual ceiling for social security annuities; 70% of this contribution is paid by the company and 30% by the employee; the mandatory R2E collective supplementary defined-contribution pension plan for all BPCE senior executives (AFB agreement) and • by extension applicable to BPCE company directors. The contribution rate is 3.5% of pensionable pay capped at eight times the annual ceiling for social security annuities. This contribution is funded entirely by the company. If the Chairman of the Management Board is not on the Group’s supplementary executive pension plan, he is entitled to participate in the pension plan through a group Insurance policy under Article 82 of the French General Tax Code, in which company directors of Groupe BPCE who do not benefit from the “Pension plan for company directors of Groupe BPCE” may participate, as this policy is funded solely through voluntary payments by the company directors who have decided to participate therein. On February 8, 2017, the Supervisory Board authorized BPCE to join this “Article 82” Insurance plan. The Chairman of the Management Board participates in this plan. As such, the Chairman’s fixed pay includes a 20% special supplement.
UNIVERSAL REGISTRATION DOCUMENT 2019 | GROUPE BPCE
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