FRANCE - BNP Paribas is to launch it an individual pension plan, Plan d’Erpargne Retraite des Particuliers, which will be available from May 10 at its branches.

Workers can pay a minimum of 50 euros a month, or a “free payment” of a minimum of 150 euros. The have can choose three types of asset management.

Gestion Securisee, or progressive securitisation, is promoted by public authorities. There is also Gestion a Horizon and Gestion Libre.

Gestion a Horizon provides “shrewd management“ based on the socially responsible investments. Gestion Libre is a tailormade option according to the required level of risk and date of retirement.

From April 2006 BNP will also offer inflation-guaranteed free management pooled funds called “BNP Paribas Garantie Inflation 2019 et 2024”.

BNP Paribas said that pensioners could choose “from a large range of personalised pensions” such as the pension “in stages” or “rente par paliers”, a formula exclusive to BNP Paribas.

Rente par paliers allows subscribers to modulate their pension depending on circumstances. “La rente viagere simple” or simple annuity pension, would entail “the payout of a regular revenue exclusively destined to the subscriber for the rest of his life”.

A minimum of 60% to a maximum of 100% of a “convertible pension” can be paid to a third party, if the subscriber dies. A regular revenue over a minimum period of five years to a maximum of 15 is made available with the guaranteed annuity pension.

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