ERAFP manages the French public service additional pension schemeIn accordance with the provisions of article 76 of the French pension reform law 2003-775 of 21 August 2003, the Scheme's management has been entrusted to a State-supervised public sector administrative entity, Établissement de retraite additionnelle de la fonction publique - ERAFP.
ERAFP's chief executive officer is appointed by joint order of the ministers responsible for the public service, the budget and social security.
This entity manages the Scheme's financial investments directly or by delegation to asset management companies.
Each year, its board of directors defines the Scheme's technical specifications and also sets the general orientations of the Scheme's fund investment policy.
Caisse des dépôts provides ERAFP with operational servicesThe Scheme's administrative management (collection of contributions, management of "individual retirement accounts", liquidation and payment*) has been entrusted to Caisse des Dépôts, under the authority and supervision of ERAFP's board of directors.
*Excluding payment of benefits to central government employees, which is done by the Directorate of Public Finance.