International Pension Fraud Overseas: Court Audit Suggests Tighter Supervision
The Court of Auditors in France has issued a report focusing on financial irregularities in pensions paid abroad. Published on May 26, the report's chapter dedicated to this issue emphasizes the need for continued actions to combat the issue.
According to the report, nearly 1.1 million individuals residing outside France received pensions from the National Old-Age Insurance Fund (CNAV) in 2022, accounting for 7.2% of the scheme's beneficiaries. Similarly, the Agirc-Arrco supplementary pension scheme for private-sector employees paid pensions to approximately 853,000 individuals abroad. Combined, these two schemes distributed €5.9 billion in pensions abroad, representing 2.7% of the total sum allocated to their affiliates.
Algeria, Portugal, and Spain were identified as the countries receiving the largest pension payments, with amounts totaling approximately €1.3 billion, €1.1 billion, and €700 million, respectively. These figures emphasize where the largest sums are distributed by these French pension systems to individuals residing abroad.
The report from the Court of Auditors also suggests some tangible results from the actions taken so far to combat fraud in pensions paid abroad. The magistrates urge for continuous efforts in this area.
Subscribers can read an additional article discussing exemptions from contributions granted to companies, called for by the Court of Auditors in another recent report.
- The business sector and general news are abuzz with the repercussions of the Court of Auditors' report, which proposes intensified actions against financial irregularities in foreign business, specifically in the distribution of French pensions.
- The report highlights significant amounts, totaling over €3.1 billion, disbursed as pensions to foreign recipients by the National Old-Age Insurance Fund (CNAV) and the Agirc-Arrco supplementary pension scheme, underscoring the importance of addressing finance-related issues in business and general-news contexts.
