Press Release following the meeting of the AGS Board of Directors of 14 December 2016

At its meeting of 14 December 2016, the Board of Directors of AGS decided, in view of the reduction in the number of failed businesses and the impact of this on the wage guarantee scheme, combined with the economic forecasts for 2017, to reduce the contribution rate from 0.25% to 0.20%, with effect from 1 January 2017.

This should be seen against the backdrop of a persistently fragile economy and continued uncertainty that weighs heavily on businesses. However, the Board of Directors wishes to send a strong signal to contributing companies, which have displayed unwavering solidarity throughout the difficult past few years.

AGS is an employer organisation; its members are the French Business Confederation — MEDEF, the Small-and Medium-Sized Employers’ Association — CGPME, and the Mutualist and Cooperative Agricultural Sector Association — CNMCCA. AGS guarantees payment of wages and related employee claims when the employer company has been placed in protection proceedings, receivership or judicial liquidation.