The war against unliquidated contracts continues. The Ministry of Economy, Finance and Industrial and Digital Sovereignty is taking another step towards strengthening information on dormant contracts. After the launch of a new free online service enabling savers to find their contracts and the managing organisations, Bercy is refining the annual reporting of these media. A decree published in the Official Journal of October 27 modifies the format of the report sent by insurers, mutuals and provident institutions to the ACPR each year.
“This decree will allow better monitoring of this phenomenon by organizing specific reporting for contracts not liquidated after the age of 70, which are more likely to correspond to concrete situations of escheat.“, announces a representative of the ministry. Escorting is a difficult phenomenon to measure since it is a case of non-use of a right. To this end, the contracts which were not liquidated after 65 years were followed up to now. However, some savers choose not to immediately liquidate their contract when they retire and prefer to keep it. These cases therefore do not correspond to a situation of escheat.
Thanks to this order, the public authorities will be able to monitor the extent of the phenomenon more closely. The specific follow-up of savers aged over 70 will also reinforce the effectiveness of the measures taken by the actors to fight against escheat.