The old-age allowance fund for general agents and non-salaried insurance and capitalization agents (CAVAMAC) is the body that manages, on behalf of the National old-age insurance fund for the liberal professions (CNAVPL), the retirement of general insurance agents and fully supports the supplementary pension of these professionals. These are self-employed agents of insurance companies whose products they distribute.
The Old Age Allowance Fund for General Agents and Non-Salaried Insurance and Capitalization Agents (Cavamac), previously called the Old Age Allowance Fund for General Agents, is one of the 10 professional sections of the National Old Age Insurance Fund liberal professions (CNAVPL).
CAVAMAC manages three schemes concerning the social protection of general insurance agents:their basic pension, their supplementary pension, called the RCO supplementary scheme, and their disability-death insurance. With regard to pensions more specifically, this organization has been responsible for managing the basic pension scheme for general insurance agents since 1949 and their supplementary pension scheme since 1967. CAVAMAC has nearly 12,700 contributors to the pension scheme of base and approximately 12,600 in the supplementary pension scheme.
CAVAMAC is managed by a Board of Directors of 20 members elected from among its affiliates, active and retired, for 6 years.
CAVAMAC is subject to the control of public authorities, i.e. the Court of Auditors, the General Inspectorate of Social Affairs (Igas), the Department of Social Security and the National Control Mission.
CAVAMAC is a private law organization established by a law of January 17, 1948 to manage public service missions governed by the Social Security Code concerning professionals with the status of general insurance agent as defined by the Code. insurances. In general, these are general insurance agents and self-employed insurance agents.
The CAVAMAC takes charge, on behalf of the CNAVPL, of certain acts concerning the general insurance agents of the old-age insurance scheme for the liberal professions (RBL) – a basic pension scheme common to the 10 sections of the CNAVPL – which entitles to the professionals concerned both at quarters and at retirement points calculated on the basis of their earned income. The CAVAMAC thus supports the appeal and collection of their contributions, as well as the liquidation of their pension rights, that is to say the calculation of these rights.
The calculation of the basic pension of general insurance agents depends, in addition to the number of quarters acquired, on the value of the RBL point revalued on January 1 of each year by the public authorities. Then simply multiply this value by the number of points acquired.
The basic pension can be increased in particular in points in several cases:for each additional quarter contributed after January 1, 2004 beyond the legal retirement age and the number of quarters required to obtain retirement at full rate; in the event of incapacity to exercise the profession of general insurance agent for at least 6 months; disability, but continuing to work; and for mothers.
Unlike the basic pension scheme for general insurance agents that it manages on behalf of the CNAVPL, the CAVAMAC is entirely responsible for managing the supplementary pension scheme (RCO) for these self-employed professionals. It is she who ensures its management under the control of its various public authorities.
The contributions of general insurance agents for the supplementary pension scheme allow them to acquire points (referred to as RCO points) calculated on a base of capped gross commissions, including a financial contribution from the principal companies. To find out the amount of their supplementary pension, CAVAMAC members must multiply the value of the RCO point, revalued on January 1 of each year by the Board of Directors, by the number of points they have acquired during their professional career as a general insurance agent.
As with their basic pension, general insurance agents can benefit from an increase in points for their supplementary pension if they have had at least 3 children or if they have a dependent disabled child. But also if they postpone their retirement beyond the legal age for a liquidation of their rights at the full rate.
