RCP transfert

Last update: 4 March 2020

Following the agreement signed between Cardif Lux Vie and LALUX-Vie to take over the “Employee Benefits” business, we are pleased to welcome you among our clients. 
 

The agreement was made official on 3 February 2020 by the Commissariat aux Assurances and the legal transfer of the portfolio was done on 10 February 2020 with retroactive effect to 1 January 2020. We are in the process of receiving the details of your contracts and your contact details, which will enable us to get in touch with you on a more individual basis. As the receipt of the complete data will take a few more weeks or even months, we felt it was important to give you some information as soon as possible to show you the special attention we would like to give you. In this context, a first letter with more details was sent to you on 19 February 2020.

LALUX-Vie is the life insurance company of the LALUX Group.

Founded in 1920, our Group also includes a non-life insurance company, LALUX Assurances, DKV Luxembourg, which specialises in health insurance, and Aprobat-LALUX Assurances dedicated to construction insurance. Today, our Group has nearly 500 employees dedicated to serving our customers.

Our shareholders are 60% owned by the Compagnie Financière LA LUXEMBOURGEOISE and 40% by the Banque et Caisse d'Épargne de l'Etat.

LALUX-Vie has been offering complementary pension schemes for over forty years. The experience we have acquired over the years enables us today to be the leader in group life insurance on the Luxembourg market. We now provide comprehensive coverage to more than 35,000 employees of some 2,000 corporate clients.

As explained above, we will receive your contract data after our agreement has been formalised by the Commissariat aux Assurances. We received the first data at the beginning of February 2020, but it will take some time to receive the complete data.

Your contracts will then be integrated into our systems over the year. The integration will of course not take place instantaneously, and we trust that you will understand that these operations require some time to complete during the year 2020. Our aim is to get everything up and running as quickly as possible.

In order to carry out the transfer, we have integrated 10 Cardif Lux Vie employees into our teams. This will also enable us to ensure the continuity of our relationships.

You are naturally guaranteed continuous insurance coverage throughout this transition period and Cardif Lux Vie is committed to working closely with us to ensure that the transition takes place under the best possible conditions. 

The taking over of your contracts will take place automatically without you having to intervene. We will contact you in due course to clarify the details of how your contracts will be managed. Nevertheless, LALUX-Vie would like you to take advantage of the administrative simplifications that our existing customers already benefit from and to suggest possible improvements. As already mentioned in the introduction, an initial letter with more details was sent to you on 19 February 2020

We ask you please not make any more premium payments to Cardif Lux Vie for the 2020 financial year. The premiums relating to this financial year that have already been paid to Cardif Lux Vie will be transferred to us. 

Concerning investments in investment funds or guaranteed funds such as Activ'Fix or FFL-Fix, we would like to inform you that these premiums will only be invested after the issue of the LALUX-VIE annual statement for 2020. We will determine together with you the period of the year in which the statement and the investment will be made. In view of the above, we offer you the option, if you wish, to request the return of these non-invested premiums pending the issue of our 2020 invoice. To do so, simply contact us. If necessary, the sums paid will be invested during the annual statement that will reach you in the coming months.

All premiums and/or contributions invested in a support with a guaranteed rate will be invested from 1 January 2021 at the maximum technical rate authorised by the Commissariat aux Assurances at the main maturity date of the contract plus any profit sharing.

The frequency of payment of employer's allowances will be on an annual basis. The exchange of information relating to members may therefore also be limited to once a year.

This has the advantage of simplifying the administration of your pension plan:

• Only one data communication per year for employer’s benefits, even if new members join or if the family situation of existing members changes.
• All employees are covered as soon as they meet the conditions for membership without having to communicate the data to the insurer beforehand. You no longer need to send us a membership form. In the event of a claim (death or disability), the provisions of the contract will apply, taking into account the actual salary, family situation and employment period on the date of the claim.
• A lump-sum corrective premium for death or disability risk premiums and back service premiums for retirement allow this simplification without changing the coverage.

We ask you to inform your members:

• that the updating of online information via e‑Club, a system that we have not been able to take over and the accessibility of which is managed by Cardif Lux Vie, will soon be discontinued. This platform will be replaced by an equivalent system by the end of the year. For the year 2020, an individual certificate in paper format will be issued with the annual statement,
• that any request for information or question from a member regarding the pension plan should always be channelled through your Human Resources department. There is no direct contact between the member and LALUX-VIE, except in the event of the member’s departure.

In the event a member leaves, all you have to do is give them the form that you can find at this link: Departure form of a member. The member returns the form duly completed and signed by all parties, together with the other required documents to departs@lalux.lu so that the member’s departure can be processed as soon as the next annual statement has been finalised. This means the member will have to wait a little while.

If your contracts offer underlying investments in Cardif's internal collective funds, which we obviously cannot take over, we will offer you the following trade-offs in the external Sicavs of the Banque et Caisse d'Epargne de l'Etat, which have similar investment policies:

You can find all the necessary information about these new funds at www.bcee.eu/luxfunds/.

We will make the trade-offs between the internal collective funds of Cardif Lux Vie and the external Sicavs according to the correspondence table above. Nevertheless, as an employer, you have the option of replacing a SICAV on the above list with another one that you consider more suitable. In this case, you should contact us before 2 March 2020. Without any reaction from you, the above trade-off will take place during the week of 9 March 2020.

Personal contributions are treated separately from the employer’s allowances. You will therefore receive an annual statement for the employer’s benefit (one statement per year with an annual premium) and a second statement for the personal contributions only (which includes all the monthly contributions or the annual contribution).

The employer pays the personal contributions on a monthly basis (or on an annual basis if the contract so provides). All you have to do is send us an updated list of contributions every month. The payment is to be made to our bank account at the Banque et Caisse d'Epargne de l'Etat: IBAN LU57 0019 1000 2739 6000 with the following communication “Agency 1843, name of your company, personal contributions”. There will be no invoice for personal contributions.

An amendment will be sent to you during the course of the year, as soon as we have been able to examine and analyse your contracts. The amendment will indicate the changes and will also take into account the changes introduced by the amended law of 8 June 1999 relating to complementary pension schemes which came into force on 1 January 2019.

In order to ensure that our future contacts will be made with the right people and on the basis of up-to-date contact details, you can update the details of your company(ies), and the details of the contact person for the pension plan by filling in the “Contact form”. 

We will contact you during the year in order to make acquaintance. If you wish to contact us, we are available to provide any further information – simply send a message to the following e-mail address: rcp_transfert@lalux.lu or contact us on the following telephone number: 4761‑6175.