FR - Publication of the ASAP Act
On 8 December 2020, law 2020-1525 on the acceleration and simplification of public action, equally known as the ASAP Act, was enacted.
This law contains a raft of measures dealing with employee savings and retirement savings, particularly to foster the development of these schemes in small companies. More specifically, it creates the opportunity for managers of companies with fewer than 11 employees to set up a profit-sharing agreement if they do not have union delegates and/or an economic and social council (ESC) in the company.
Henceforth, an employee savings scheme can be set up by a “unilateral employer decision” (UED), an instrument allowing the company leader to introduce new social and group guarantees for his employees. Additionally, branch agreements dealing with profit-sharing and employee savings schemes have had their negotiation deadlines extended by one year, until 31 December 2021. Access to such branch agreements has also been simplified by the ASAP Act for companies with less than 50 employees. Henceforth, a UED will enable them to enter into one of these agreements dealing with profit-sharing, employee savings or retirement savings.