contributor to this article appears to have a close connection with its subject . it may require cleanup to comply with wikipedia s content policies particularly neutral point of view . please discuss further on the talk page . july 2016 learn how and when to remove this template message fonds de r serve pour les retraites frr french reserve fund type public owned state funded agency industry investments founded july 17th 2001 headquarters paris france number of employees 48 website http www.fondsdereserve.fr en the french reserve fund fonds de r serve pour les retraites ou frr 1 is an administrative public establishment created by law n 2001 624 dated 17 july 2001 . its mission is to invest monies entrusted to it by the public authorities on behalf of the community with the aim of financing the pension system . its investment policy is to optimize returns on the investments it makes as prudently as possible . its policy must be consistent with those collective values that are designed to promote balanced economic social and environmental development . contents 1 assets under management 2 history 3 details on the frr s role 4 activity 5 frr s organisation 6 the supervisory board of the frr 7 the executive board 8 management structure chart 9 official links 10 references assets under management edit at december 2014 the frr s assets are 37.2 billion euro . general structure of the frr s portfolio at 31 12 2014 history edit at its creation the target was to build a reserve fund of 150 billion euro by 2020 . the funds were to come from 4 sources surpluses of certain social security funds fonds de solidarit vieillesse privatisation resources mobile phone licences stock market transaction tax after initially receiving funds from the fsv and 1.2 billion from the provatisation of the autoroute company autoroutes du sud de la france since 2003 the fund has been funded mainly by 65 % of the investment tax of 2 % . the fund was set up to guarantee financial stability of the cnav caisse nationale d assurance viellesse or national pension insurance bank organic caisse de retraite des commer ants et des chefs d entreprises commerciales or pensions bank of the traders et cancava caisse de retraite des artisans or pensions bank of craftsmen . first payments were set to start in 2020 . details on the frr s role edit the frr is a long run investor . its mission as conferred by law is to manage the sums that are allocated to it to build up reserves to help ensure the long term future of eligible retirement plans . the fund is also responsible for the financial management of a portion of the exceptional one off lump sum contribution owed to the cnav caisse nationale d assurance vieillesse . the government has set out a timetable for the payout of the fund s assets . under the terms of the social security financing law 2011 the sums allocated to the fund are held in reserve until 1st january 2011 . as from this date and up until 2024 the fund shall each year and at the latest by 31 october pay 2.1 billion euros to the national social debt amortization fund caisse d amortissement de la dette sociale cades to help finance between 2011 and 2018 the deficits of the entities that administer the basic pension . on this basis the frr determines the general investment policy guidelines consistent with the principles of prudence and risk diversification given the target timetable for utilisation of the fund s resources in particular the above mentioned payout obligations . in its implementation the aim of the frr s investment policy is also to help finance economic actors in general and businesses in particular . this in turn helps to consolidate their prospects for long term growth and promote sustainable wealth creation and job growth . at the same time it is consistent with certain shared values that promote balanced economic social and environmental development . in 2008 the supervisory board adopted a responsible investment strategy which seeks to enable the fund to honour its commitments as a signatory to the un s pri principles for responsible investment . activity edit the management of its assets is entrusted to authorized investment services providers permitted to conduct portfolio management services on behalf of third parties as referred to in paragraph 4 of article l. 321 1 of the monetary and financial code . as an administrative public establishment the frr is required to select its contractors using the french government procurement process rfp procedures . the employees are mainly coming from the asset management industry and are specialised in investment services providers selection . frr s organisation edit the frr is a publicly owned state funded agency governed by an executive board and a supervisory board . governance presentation of the frr consistent with its stated purpose and in light of the volumes of funds it manages the frr has set up structures of management and government intended to ensure independence this spirit is reflected in the fund s status . transparency due to the nature of the fund s resources its strategy and financial statements must be disclosed to the public at regular intervals . the process of awarding management mandates for the fund s assets is conducted in compliance with official government regulations on public bidding and requests for proposals rfps . close involvement of labor and management stakeholders and legislators in the operation of the frr via its supervisory board . the supervisory board of the frr edit supervisory board members include legislators labor management stakeholders representatives of the ministries under whose general supervision the frr operates i.e. the ministries of social security and of the economy finance and industry and individuals with recognized credentials in fields that are relevant to fund s stated missions . the board which currently counts twenty members is required to meet a minimum of twice yearly . since november 24th 2011 alain vasselle is the president of the supervisory board of the frr . the executive board edit the executive board has three members pierre ren lemas chief executive officer of caisse des d p ts president of the executive board of frr yves chevalier member of the executive board olivier rousseau member of the executive board . the executive board is responsible for directing the agency and for ensuring its smooth operation . it executes investment policy guidelines and ensures compliance with them . the executive board reports regularly to the supervisory board on its management of the agency and in particular relates information on the way in which investment policy guidelines take into account social environmental and ethical considerations . management structure chart edit management structure chart official links edit official website portail twitter du frr portail linkedin du frr foundational texts legal statement about the organisation and the management of the frr caisse des d p ts et consignations cdc s role in administrative management references edit home fonds de r serve pour les retraites . fondsdereserve.fr . retrieved 22 april 2011 . v t e pensions in europe sovereign states european union austria belgium bulgaria croatia cyprus czech republic denmark estonia finland france germany greece hungary ireland italy latvia lithuania luxembourg malta netherlands poland portugal romania slovakia slovenia spain sweden united kingdom other albania andorra armenia azerbaijan belarus bosnia and herzegovina georgia iceland kazakhstan liechtenstein macedonia moldova monaco montenegro norway russia san marino serbia switzerland turkey ukraine states with limited recognition abkhazia kosovo nagorno karabakh northern cyprus south ossetia transnistria dependencies and other territories land faroe islands gibraltar guernsey isle of man jersey svalbard v t e economy of europe sovereign states european union austria belgium bulgaria croatia cyprus czech republic denmark estonia finland france germany greece hungary ireland italy latvia lithuania luxembourg malta netherlands poland portugal romania slovakia slovenia spain sweden united kingdom other albania andorra armenia azerbaijan belarus bosnia and herzegovina georgia iceland kazakhstan liechtenstein macedonia moldova monaco montenegro norway russia san marino serbia switzerland turkey ukraine vatican city states with limited recognition abkhazia kosovo nagorno karabakh northern cyprus south ossetia transnistria dependencies and other territories land faroe islands gibraltar guernsey isle of man jersey svalbard other entities european union retrieved from https en.wikipedia.org w index.php title pensions reserve fund france & oldid 730951582 categories pensions by countryeconomy of franceretirement in francesovereign wealth fundshidden categories wikipedia articles with possible conflicts of interest from july 2016pages using infobox company with unsupported parameters navigation menu 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