Analysis by Good Value for Money of the characteristics of the Epargne Retraite 2 Plus associative contract of Asac Fapes

  • Insurance contract analysis
  • Good Value for Money

With more than 50 years of seniority, Epargne Retraite 2 Plus is one of the oldest existing contracts on the French life insurance market. Throughout this period, he was able to benefit from all the attention provided by Association Asac Fapes both for the defense of its members and for the necessary development/transformation of the contract.

Retirement Savings 2 Plus is to this day a multi-support multi-manager contract proposing two financial management offers to the saver:

  • of the saver hand free managementwith :
    • access to the classic euro fundhistoric and confined to Asac Fapes with Allianz Vie, whose rate served is located on average 0.75% above that of the market,
    • a range of 51 units of account in open architectureamong :
      • 16 vehicles managed by Allianz Global Investors, which means that the 35 others are external to the Allianz Group,
      • 13 media identified by Good Value for Money as “UC stars” with regard to its own rating criteria, in particular:
        • Janus Henderson Horizon Global Sustainable Equity Fund (international equities),
        • Parnassus US Sustainable Equities A (North American equities),
        • BNP Paribas Human Development Classic (European equities),
      • 17 brackets for which Asac Fapes has sought “the reference unit of account” in 17 management companieswhich explains the good overall financial performance of the range of the contract,
      • 1 SCI, Allianz Invest Pierre,
    • three financial management options saver’s hand:
      • the progressive revitalization of payments,
      • the progressive dynamism of capital constituted on the fund in euros,
      • the securing performance obtained on units of account from a trigger threshold freely set between + 5% and + 15% (whole number),
    • of the streamlined management with a range of 5 offers delegated to Allianz Banque:
      • Entitled Asac 30, Asac 45, Asac 60, Asac 75 and Asac 90, these offers are all based on the principle of a mixed allocation of savings Between :
        • a percentage of funds in euros (for example: 40% for Asac 60),
        • a percentage of medium-risk unit-linked supports (for example: 22% for Asac 60),
        • a percentage of high-risk unit-linked supports (for example: 38% for Asac 60).
      • The financial management of the two pockets invested in units of account is produced by Allianz Bank.
      • The Allianz Bank service gives rise to a additional billing of 0.30% per year on the units of account concerned.

Main advantages of Retirement Savings 2 Plus

  • Quality of the selection of the 51 units of account offered to investors in free management in comparison with its benchmark resulting in a average financial outperformance:
    • of + 1.87% per year during last three years (period 2019-2021),
    • of + 1.49% per year during last five years (period 2018-2021).
  • Quality of the financial management of the traditional ring-fenced euro fund Retirement Savings 2 Plus allowing members of the contract to benefit from a rate served (net of fees and gross of social security contributions) clearly above the market average for more than 50 years now:
    • 2021: 1.80% for Epargne Retraite 2 Plus versus 1.08% for the market, i.e. 0.72% better,
    • 2019-2021 (3-year average): 1.90% per year on average for Epargne Retraite 2 Plus versus 1.17% on average for the market, i.e. 0.73% better per year,
    • 2017-2021 (5-year average): 2.15% per year on average for Epargne Retraite 2 Plus versus 1.38% on average for the market, i.e. 0.77% better per year.
  • Contract benefiting from reduced fees for the saver:
    • Annual management fees on the fund in euros: 0.36%
    • Annual management fees on account units: 0.60%
    • 4 free arbitrations per year in free management
    • Free arbitrations arising from the possible implementation of financial management options.
  • Good accessibility of the contract with regard to the features offered:
    • Minimum amount of subscription payment: €500
    • Minimum amount of one free payment: €150
    • Minimum amount of one scheduled monthly payment: €50
    • Minimum amount of one arbitration: 250 €
    • Minimum amount of one partial redemption: €150
  • Constancy of the Asac Fapes Association at a time in the defense of its members and in the evolution of the contracts subscribed by him with life insurers, in particular its flagship Epargne Retraite 2 Plus contract with Allianz Vie.

Main disadvantages of Retirement Savings 2

  • Proper performance of managed management offers offered in the contract and managed by Allianz Banque, but falling a little below the market benchmark constituted by Good Value for Money.
  • Obligation now to invest at least 30% in units of account for any payment made under the contract.
  • Absence of offer of funds in euros with partial guaranteewhich could constitute an interesting additional offer in view of the evolution of interest rates.

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