- Personalized advice and tools adapted to each individual situation available on www.la-retraite-en-clair.fr.
- An indispensable resource for estimating future retirement income and anticipating lifestyle potential at retirement
Under the French retirement system, people must be registered in one of 35 different schemes, and most people belong to more than one plan. The legacy of developments over the years in the French pension system, this diversity creates a feeling of great complexity among the general public, and makes it difficult for the average person to understand the issues at stake in planning for retirement.
According to a survey published by business daily La Tribune(1), 69 percent of the French believe they are saving too little in general. This finding is all the more alarming since, when asked specifically about savings for retirement, only 11 percent of the French say they think they are saving enough.
To be able to calmly and adequately plan ahead, reliable tools to calculate future retirement income are absolutely essential.
To improve information on retirement and help people in France make the right choices for each individual situation, BNP Paribas Assurance has developed a website with clear information on retirement: www.la-retraite-en-clair.fr.
“Retirement is an issue that concerns all of us. That's why BNP Paribas Assurance decided to create a site to provide clear information on retirement. The site is designed to help visitors find all the elements they need to decide on how best to prepare for their future,” says Jean-Pierre Diaz, head of savings and protection products in France at BNP Paribas Assurance.
The non-commercial website focuses on educational and informative content and is aimed primarily at people who are currently employed and are between the ages of 35 and 55. It provides precise information on how the retirement system functions, with details on various insurance products that can be used to supplement retirement revenue if necessary.
There are two main sections: “Les clés pour comprendre” (Keys to understanding retirement) and “Les outils pour se préparer” (Resources to get prepared). The rich and varied content on the site includes educational animations, interviews with experts from diverse backgrounds, comments on case study scenarios and concrete examples. The result is a clear vision of the retirement outlook for each individual profile.
Anticipate future retirement income and get personalized advice on www.la-retraite-en-clair.fr
A simulator on the la-retraite-en-clair.fr site makes it easy to calculate future retirement income with a single click on the homepage.
Simple and ergonomic, the “Retirement Diagnostic” tool lets visitors estimate the amount of the pension they will receive from compulsory schemes when they retire. The simulator also shows the amount of additional monthly revenue needed to maintain their current purchasing power after retirement.
In addition to the simulator, la-retraite-en-clair.fr includes an interface for personalized advice tailored to each individual's personal and professional situation.
For example, a 35-year-old woman who is a professional journalist and has two children, has an estimated annual gross salary in 2010 of €35,000. After estimating her end of career revenue, the simulator shows that the gap between her final salary and the pension amounts paid by the state retirement scheme will be €1,300 per month. Since people tend to spend less after retirement than while they are working, the woman in this example will not necessarily need this entire supplemental amount.
She is however advised to start saving for retirement as early as possible because not only do women live longer(2), their state pensions are generally lower than those of men(3) (due to a variety of factors, including lower salaries and breaks in careers to have children).
She is also advised to diversify her investment savings, splitting it between real estate, individual and company retirement plans and life insurance vehicles. The site la-retraite-en-clair.fr thus provides a clear view of the benefits and drawbacks of each solution in preparing for retirement throughout a career.
Why save? At what age should you start saving? What is collective retirement savings? How do you read the detailed pension statement sent by the government? What is an individual pension statement? Objective answers to these and other questions are all found on la-retraite-en-clair.fr.
The retirement information website la-retraite-en-clair.fr is also available via:
- Facebook http://www.facebook.com/pages/La-Retraite-en-Clair/153420778005829
- Twitter http://twitter.com/retraiteenclair
- Youtube http://www.youtube.com/user/laretraiteenclair
About BNP Paribas Assurance
BNP Paribas Assurance (www.assurance.bnpparibas.com) is the Life and Property & Casualty insurance unit of BNP Paribas. It develops and markets products and services under two commercial brands. Products distributed through the BNP Paribas retail branch network in France are branded BNP Paribas. Those distributed by other channels in France and in international markets are branded Cardif.
BNP Paribas Assurance is the world leader in creditor insurance and the fourth-largest life insurance company in France. Its life and non-life insurance units have received an AA rating from Standard & Poor's. It had gross written premiums of 20.7 billion euros in 2009. With a diversified geographic footprint, BNP Paribas Assurance has strong positions in Europe, Latin America and Asia. In 2009, BNP Paribas Assurance generated 41% of its gross written premiums outside France.
It counts over 8,000 employees, 74% of them outside France.
BNP Paribas Assurance is actively committed to exemplary Corporate Social Responsibility. It has adopted a Socially Responsible Investment program, encourages diversity throughout the enterprise (earning the "Gender Equality at Work" label in France) and supports local economic development in the markets where it operates.
BNP Paribas Assurance is equally committed to environmental responsibility and has deployed an action plan to achieve a 10-percent reduction in the company's carbon emissions
(1) Source: Janus Capital Group, Absolute Research Strategy. Results of the study were published in La Tribune dated September 14, 2010.
(2) In France, the age expectancy of women is 84.5 years, compared with 77.8 years for men.
Source: Insee statistics agency, 2009.
(3) The average pension for women in 2008 was €825, compared with €1,426 for men.