Financing the French Social security system

Urssaf, identified as “ACOSS” on the financial markets, finances the French social model through optimized cash flow management. It uses the money market to finance any temporary gaps in cash flow and to guarantee continuity in social benefit payments.

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investors@acoss.fr

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Urssaf's financial missions

Managing cash flow for all the general scheme’s national funds

Urssaf national fund handles cash flow for the other Social Security providers (health, retirement pension, family, industrial accident, and dependency) and ensures that they have the funding they need on a day-to-day basis in order to finance social benefits.

How? By redistributing the contributions it collects to France’s social providers and their partners on a day-to-day basis.
 

Accurately forecasting and optimizing cash flow requirements

To optimize its financing activity, Urssaf national fund creates forecasts in order to get the clearest  possible picture of the amounts to be collected and disbursed. Toward this aim, it monitors and analyses the Social security funds’ statutory cash flow dates, exemptions, and financing needs.
 

Determining the general Social Security scheme’s banking market strategy

Urssaf national fund also sets the general Social Security scheme’s banking market strategy, through the involvement of the National Financial Mission. As the central banking service purchaser, it regularly publishes calls for tender
 

Optimizing self-employed worker’s reserves

Urssaf national fund assumed management of the financial reserves of the self-employed workers’ supplementary retirement pension and disability-death schemes when they were incorporated into the general scheme in 2020. In this capacity, it performs financial operations and is in charge of procurement for the « Self-employed workers’ social protection council » (Conseil de la protection sociale des travailleurs indépendants.)

Accurately forecasting and optimizing cash flow requirements

To optimize its financing activity, Urssaf national fund creates forecasts in order to get the clearest  possible picture of the amounts to be collected and disbursed. Toward this aim, it monitors and analyses the Social security funds’ statutory cash flow dates, exemptions, and financing needs.
 

A financing strategy that’s recognized worldwide

Urssaf’s financing strategy is well-received by the financial markets, in particular by the money markets’ leadind portal CMD (Collaborative Market Data).

  • 2022 : World's first issue of NeuCP and ECP SPO according to the criteria of "social good principles"
  • 2021 : Awarded Best overall ECP issuer worldwide
  • 2020 : Awarded Best overall ECP and NECP issuer worldwide – despite exceptional financing needs which reached a historic level of 90 billion euros
  • 2019 : Awarded Best overall ECP issuer worldwide;
  • 2016, 2017, 2018 : Best ECP issuer award in the sovereign, supranational, and agency category;
     

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