Fund assets break down as follows:
| (in millions of euros) | 31/12/2022 | 31/12/2021 |
|---|---|---|
| FUND ASSETS | FUND ASSETS31/12/20229,398 | FUND ASSETS31/12/202113,411 |
| Assets funding special pension benefits | Assets funding special pension benefits 31/12/20228,827 |
Assets funding special pension benefits 31/12/202112,620 |
| Including (%) | Including (%)31/12/2022
|
Including (%)31/12/2021
|
| Listed debt instruments (bonds) | Listed debt instruments (bonds) 31/12/202265% |
Listed debt instruments (bonds) 31/12/202167% |
| Listed equity instruments (shares) | Listed equity instruments (shares) 31/12/202233% |
Listed equity instruments (shares) 31/12/202133% |
| Real estate property | Real estate property 31/12/20222% |
Real estate property 31/12/2021- |
| Assets funding retirement gratuities | Assets funding retirement gratuities31/12/2022557 | Assets funding retirement gratuities31/12/2021776 |
| Including (%) | Including (%)31/12/2022
|
Including (%)31/12/2021
|
| Listed debt instruments (bonds) | Listed debt instruments (bonds) 31/12/202269% |
Listed debt instruments (bonds) 31/12/202167% |
| Listed equity instruments (shares) | Listed equity instruments (shares) 31/12/202231% |
Listed equity instruments (shares) 31/12/202133% |
| Other fund assets | Other fund assets31/12/202214 | Other fund assets31/12/202115 |
At 31 December 2022, the bonds held as part of fund assets are distributed as follows:
Around 59% of bonds are sovereign bonds issued by Euro zone countries, and the balance mainly consists of bonds issued by financial and non-financial firms.
At 31 December 2022, the equities held as part of fund assets are distributed as follows:
This distribution is relatively stable compared to the distribution at 31 December 2021.
The performance of pension fund assets in France is -27.1% in 2022.
Cash flows related to future employee benefits are as follows:
| (in millions of euros) | Cash flow underyear-end economic conditions | Amount covered by provisions (present value) |
|---|---|---|
| Less than one year | Less than one year Cash flow underyear-end economic conditions1,258 |
Less than one year Amount covered by provisions (present value)1,237 |
| One to five years | One to five years Cash flow underyear-end economic conditions4,493 |
One to five years Amount covered by provisions (present value)3,997 |
| Five to ten years | Five to ten years Cash flow underyear-end economic conditions5,765 |
Five to ten years Amount covered by provisions (present value)4,265 |
| More than ten years | More than ten years Cash flow underyear-end economic conditions53,963 |
More than ten years Amount covered by provisions (present value)16,555 |
| CASH FLOWS RELATED TO EMPLOYEE BENEFITS | CASH FLOWS RELATED TO EMPLOYEE BENEFITSCash flow underyear-end economic conditions65,479 | CASH FLOWS RELATED TO EMPLOYEE BENEFITSAmount covered by provisions (present value)26,054 |
At 31 December 2022, the average duration of employee benefit commitments in France is 16.8 years.
| (in millions of euros) | 31/12/2022 | 31/12/2021 |
|---|---|---|
| Current employees | Current employees 31/12/20222,603 |
Current employees 31/12/20215,837 |
| Retirees | Retirees 31/12/20223,798 |
Retirees 31/12/20214,573 |
| OBLIGATIONS | OBLIGATIONS31/12/20226,401 | OBLIGATIONS31/12/202110,410 |
