Supervisory Board
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, of the Economy, and Finance and Industry) and individuals with recognized credentials in fields that are relevant to the FRR’s stated missions.
The Board, which currently counts twenty members, is required to meet a minimum of twice yearly.
The Board’s twenty members are chosen from among:
The legislative branch
2 representatives from the French National Assembly and 2 from the French Senate
Representatives of social security beneficiaries
5 members designated by general labor and trade unions with nationwide scope
Representatives of employers and self-employed workers
5 members appointed by representative employers’ and self-employed workers’ unions
Representatives of the executive branch
4 members, of which 1 from the Ministry of the Economy, 1 from the Ministry of the Budget, and 2 from the Ministry in charge of Social Security
Individuals with recognized credentials
Individuals with recognized credentials in fields considered to be relevant to the FRR’s stated missions
The chairman of the FRR Supervisory Board is appointed from among its members by decree.
Responsibilities
The Supervisory Board is responsible for:
- Defining, on the recommendation of the Executive Board, general investment policy orientations for the Fund’s assets (Strategic Allocation), in accordance with the objective and timeframe for use of the Fund’s resources, as well as with the prudent man and risk diversification principles
- Auditing the Fund’s performance
- Approving the Fund’s annual financial statements
- Preparing an annual report on Fund management for public disclosure
Supervisory Board Committees
Several bodies arise from the Supervisory Board:
The accounts and audit committee
The strategic investment committee (SIC)
The responsible investment committee (RIC)
Each of these bodies meets an average of one to two times per year.
The SIC is the body with the most frequent meetings, to provide an update on the financial and the economic context, and if needed, to provide opinions on financial management evolution.
