- General condition analysis of contracts
- Good value for money
ASAC FAPES PER (Asac Fapes / Spirica)
Good value for money analysis of the general conditions
Version per November 11, 2022
Reference elements
- Insurance company:
- Contract type:
- Individual pension savings (PERIn)
- Contract type:
- Collective with individual subscription
- Signing entity in the collective agreement:
- Version of the analyzed general conditions:
- Contract status:
- Open for new subscriptions
Costs
- Association fees:
- €10 in association dues for the first membership of the APPEIR association
- Entry fees for payments:
- No upfront fees on payments
- Frontend fees on incoming transfers:
- Absence of access fees on incoming transfers
- Annual management fees for the fund in euros:
- Euro PER New Generation Fund: 2.00% of which:
- 0.70% administrative and commercial management fees
- 1.30% used to increase asset allocation
- Annual management fees on the internal fund:
- Long Term Allocation Growth Fund (ALT):
- 1.00% annual management fee
+ 10% fee for financial performance if positive
- 1.00% annual management fee
- Annual management fees on account units:
- 0.50% deducted quarterly up to 0.125% per reduction in the number of units of account
- Annual fees additional in managed management:
- 0.26% deducted quarterly up to 0.065% per reduction in the number of billing units, regardless of which profile the saver has chosen
- 0.26% deducted quarterly up to 0.065% per reduction in the number of billing units, regardless of which profile the saver has chosen
- Long Term Allocation Growth Fund (ALT):
- Euro PER New Generation Fund: 2.00% of which:
Mortality Table Guarantee
- Absence of guaranteed mortality table
Minimum payment amount
- Minimum opening amount:
- in free administration: €500with a minimum of €25 per medium
- in managed management over the horizon: €500 per profile
- in managed management: €500 per profile
- Minimum amount for incoming transfer:
- Minimum free deposit amount:
- in free administration: €100with a minimum of €25 per medium
- in managed management over the horizon: €500 per profile
- in managed management: €500 per profile
- Minimum amount for scheduled free payments:
- Monthly frequency:
- in free management: from €50 with a minimum of €25 per medium
- in managed management on the horizon: €150 per already invested profile
- in managed management: €150 per already invested profile
- Quarterly periodicity:
- in free management: from €100 with a minimum of €25 per medium
- in managed management on the horizon: €150 per already invested profile
- in managed management: €150 per already invested profile
- Semi-annual frequency:
- in free management: from €100 with a minimum of €25 per medium
- in managed management on the horizon: €150 per already invested profile
- in managed management: €150 per already invested profile
- Annual frequency:
- in free management: from €100 with a minimum of €25 per medium
- in managed management on the horizon: €150 per already invested profile
- in managed management: €150 per already invested profile
- Monthly frequency:
- Possibility of annual indexation of planned free payments:
Funds in euros with partial capital guarantee up to 98% per annum
“New generation PER Euro Fund”
- Foundation name:
- New Generation PER Euro Fund
- History of rates paid (net of fees and gross social security contributions):
- 2021: 1.65%
- 2020: 1.65%
- 2019: 1.65%
- 2018: 2.20%
- 2017: 2.30%
- Possible investment restrictions:
- Payment ceiling: €2,000,000
Internal fund “Long Term Allocation Growth (ALT)”
- Operating principle:
- Issuance of a new medium every year for a period of 8 years,
which means that each generation of the fund will have its own performance
with a term of 8 years
- Issuance of a new medium every year for a period of 8 years,
- Guaranteed minimum amount at maturity
- 80% of the first payment excluding fees
- Commitment period:
- 31 December of 8th year
- The fund’s financial results (minus fees and gross social security contributions):
- 2021: +4.88%
- 2020: +1.96%
- Possible investment restrictions:
Suggested financial management methods
- Free management
- Free investment:
- in the partially guaranteed Eurofund (Euro PER New Generation Fund), subject to compliance with the payment ceiling,
- in the internal long-term allocation growth fund (ALT)knowing that every year there is a generation of the launch fund with a term of 8 years (for example: 31 December 2031 for payments made during the year 2023)
- Access to the range of 508 CPUs offered in free administration
- Free investment:
- Possible activation of the following financial management options:
- Progressive investment
- Requirement for a minimum outstanding amount stipulated in the contract of €10,000
- Requirement for a minimum amount of €100 per month
- Free choice of the units of account to be invested in and the distribution in %with a requirement of a minimum amount of €50 invested per medium
- Arbitrage from the euro fund “New Generation PER Euro Fund”
- Realization of a monthly arbitration on the first Friday of each month of the stated sum for an entire number of months chosen by the subscriber
- No arbitration fees
- Protection of capital gains
- Requirement for a minimum outstanding amount stipulated in the contract of €10,000
- Different settings possible for each account unit
- Choice of capital gain level between 5% and 30% (whole number)
- Arbitration against a security fund chosen by the customer from among authorized means
- Controls are carried out daily
- Requirement of a minimum amount of €100 to be mediated
- No arbitration fees
- Limitation of relative price losses (“ stop loss relative “)
- Requirement for a minimum outstanding amount stipulated in the contract of €10,000
- Different settings possible for each account unit
- Choice of loss level between 5% and 50% (whole number)
- Arbitration against a security fund chosen by the customer from among authorized means
- Controls are carried out daily
- Requirement of a minimum amount of €100 to be mediated
- No arbitration fees
- Progressive investment
- Horizon-based management
- Choice of the saver of one of the three management profiles offered:
- Prudent Profile Retirement Horizon
- Horizon Retirement Balanced Profile
- Dynamic Profile Retirement Horizon
- Choice of the saver of one of the three management profiles offered:
- Driven management
- Selection by the member of one or more of the managed management profiles offered:
- Balance profile administered by Ofi AM
- Profile Future trends administered by Ofi AM
- Carte Blanche profile administered by Ofi AM
- Selection by the member of one or more of the managed management profiles offered:
- Methods for possible accumulation of the proposed management methods
- Option for the saver to combine several management methods
- Possibility for the saver to change the management mode at any time
Range of billing units offered in free administration
- Classical units of account:
- 313 accounting units from 102 management companies
- Real estate supports:
- 12 OPCIs
- 2 SCI / 3 SC / 1 SCP
- 18 REITs
- Trackers:
- Live titles:
- 114 live tracks (listed shares)
- Private equity funds (unlisted):
Investment restrictions on property support
- Maximum investment per real estate media:
- SCPI :
- Investment up to 50% for each operation
- 3% fines in case of disinvestment in the first 3 years after the first investment
- SCI / SC / SCP:
- Possible investment up to 100% per operation
- OPCI :
- Possible investment up to 100% per operation
- SCPI :
- Maximum investment per contract regarding property support:
- Investment ceiling of DKK 1 million. EUR on all SCPIs per contract
- Possible investment of up to 100% of the allocation in real estate within the same contract, i limit of 2 million EUR for all property subsidies combined
Arbitration
- Free management
- Minimum arbitration amount of €500 or the entire selected media
- Reinvestment of at least €50 per selected media
- Requirement for a minimum balance per media after arbitration of at least €50
- Free online arbitration
- Horizon-based management
- Horizon-based management
- Absence of additional billing for arbitration
- Trade-offs between management methods
- Billing up to €15
Death floor guarantee
- Warranty available regardless of financial management method chosen
- The maximum amount of insurable loss:
- Age limit for taking out the guarantee:
- Age limit for warranty coverage:
- 75th birthday of the insured
- Annual warranty costs:
- Billing from 0.17% to 4.08% depending on the risk capital and the age of the insured
Other possible optional warranties
Annuity withdrawal terms
- Maximum age for applying for annuitization:
- Fees for receiving annuity arrears:
Annuity options are offered
- Simple annuity
- Annuity with guaranteed annuity
- Limitation to the number of life expectancy reduced by 5 years
- Joint annuity
- between 50% and 150% in 10% increments
- Joint annuity with guaranteed annuities
- between 50% and 100% in 10% increments
- Differentiated annuity
- Possible completion of 1 or 2 payment periods
- Maximum possible duration of each of the first 2 periods of 10 years
To learn more about the analysis of good value for money, click on the following link: https://www.goodvalueformoney.eu/product/selection-sel0000495-asac-fapes-per-selection-2022-2023
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