Date: 5th October 2016
Author:
Type: In the news
Arcaf, the National Association for Public Employee Pension Savers, in France and member of BETTER FINANCE as part of FAIDER, alerted consumers to the insufficient solvency of the COREM pension fund. The French Mutual Pension Union which manages the COREM retirement savings products for 400,000 savers reached now a hole of € 2.9 billion.
Almost a year after Arcaf requested the French Supervising Authority to immediately put an end to the misleading information emanating from the COREM, and to close the pension fund to any new contributions, the the situation worsens even more.
Please find Guillaume Prache, Managing Director of BETTER FINANCE and Presdident of Arcaf, views here.