CARMF

What CARMF does

CARMF (Caisse autonome de retraite des médecins de France) is the statutory, self-governing pension and social insurance fund for liberal physicians practicing in France (and Monaco). Founded in 1948 and headquartered at 44 bis rue Saint Ferdinand in Paris, it manages four mandatory regimes — Base, Complémentaire (representing ~45% of the average pension), ASV, and Invalidité-Décès — covering retirement, disability, death, and reversion benefits. Beyond the statutory regimes, CARMF administers Capimed, a voluntary capitalization-based PER (Plan d'Épargne Retraite) yielding 3.40% on 2025 contributions against a 1.75% guaranteed technical rate, plus a social action fund (FAS), a Tontine mutual-aid contract, and the simplified RSPM regime for low-revenue replacement physicians.

The operational stack centers on the eCARMF member portal (online contribution payments, retirement simulators, calculators, document submission), supplemented by in-person services at the Paris HQ and a nationwide network of elected regional delegates. Integration with the national GIP Info-Retraite portal enables unified pension dossiers across regimes. Distribution is omnichannel: official website, newsletters (Lettre CARMF, InfoCARMF), Facebook, YouTube, printed guides, regional forums, and an annual General Assembly at the Palais des Congrès de Paris. As of June 2025, the fund serves ~95,519 retired physicians (average pension €2,967/month), ~24,044 reversion beneficiaries (95% women, average age ~81), and a growing segment of 14,285 cumulating retiree/active physicians.

The revenue model is statutory and recurring: contributions are collected twice yearly (advance in January, balance May–July) across all regimes at government-decree-mandated rates that scale with net professional income. 2024 contribution flows totaled ~€2,987M (€2,270.7M excluding base plus €715.8M base regime). Net financial result was €312.1M in 2025, up 18% from €263.5M in 2024. CARMF is a private mutual organization governed by a 25-member Board of elected delegates and administrators; there is no private equity, parent, or external ownership. Following a 2024 governance transition and a series of 2026 regulatory reforms (LFSS 2026 cumulation rules, contribution-basis reform) the organization continues operating with 240 employees.

Name

CARMF

Legal name

Caisse autonome de retraite des médecins de France

Website

https://carmf.fr

Company type

Private

Founded year

1948

Operating status

Operating

Headcount range

51–100 employees

Short description

CARMF is the statutory French pension and social insurance fund managing mandatory retirement, complementary, ASV, disability-death, and reversion benefits for liberal physicians practicing in France and Monaco. Founded in 1948, it serves roughly 110k active contributors and 95k pensioners via the eCARMF digital portal, regional delegates, and the Paris headquarters.

Ownership category

akta.pro rank

Headquarters

HQ city

Paris

HQ country

France

HQ region

Europe

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Others

Revenue model

1. Mandatory Pension Contributions: CARMF collects mandatory contributions from French physicians across four regimes: Base (basic), Complémentaire (complementary), ASV (additional old-age benefits), and Invalidité-Décès (disability-death). Contributions are calculated based on net professional income and are collected twice yearly (advance in January, balance in May-July).
2. Capimed Voluntary Contributions: Voluntary supplementary pension plan where physicians can make additional tax-deductible contributions to build retirement savings in capitalization.

Pricing tiers

Go-to-market motion1 record

Distribution channels4 records

Marketing channels7 records

Core offering

CARMF manages the four mandatory retirement and provident regimes for French liberal (independent) physicians: the Régime de base (basic), Régime complémentaire (complementary, representing the largest portion of average pension at 45%), Régime ASV (additional old-age benefits), and Régime invalidité-décès (disability and death coverage). It also offers Capimed, a voluntary supplementary pension savings plan (Plan d'Épargne Retraite) managed in capitalization with guaranteed returns and tax-deductible contributions. All offerings are delivered directly to member physicians and their families (surviving spouses, collaborating spouses, beneficiaries) across France, governed by elected physician delegates.

Product overview

CARMF (Caisse autonome de retraite des médecins de France) is a mandatory pension and insurance fund for French physicians offering a unified platform of retirement and insurance products. The core offering consists of three interconnected retirement regimes: the Régime de base (basic regime), Régime complémentaire (complementary regime at 45% of average retirement), and Régime ASV (supplementary old-age benefits), supplemented by the Régime invalidité-décès for disability and death coverage. The Capimed PER (Plan d'Épargne Retraite) functions as a facultative capitalization-based savings module with superior market yields. Additional offerings include survivor's reversion pensions, the FAS social action fund providing hardship assistance, the eCARMF digital portal for online account management, and specialized tools including online calculators, retirement simulators, and the Tontine mutual aid contract. The RSPM simplified regime serves replacement physicians. Together these products provide comprehensive coverage from active career through retirement and death, with digital self-service tools enabling complete online procedure completion.

Differentiator

Problem solved

Functional benefit

Brands

• Capimed: A facultative pension savings plan (PER - Plan d'Epargne Retraite) managed by CARMF in capitalization, offering supplementary retirement benefits with a 3.40% yield for 2025 contributions.
• eCARMF

Products and services

• Régime de base Basic mandatory retirement regime for French liberal physicians, providing foundational pension rights based on quarters contributed and net professional income, with proportional contributions split across two income tranches up to the Social Security ceiling.
• Régime complémentaire Mandatory complementary retirement regime providing additional pension points based on physician contributions and revenue, composing the largest portion of average physician retirement benefits (approximately 45%). Contributions are set at 10.2% of net professional income.
• Régime ASV (Allocations Supplémentaires de Vieillesse)

Quantifiable outcome

• Average physician retirement pension of 2,967 euros/month (June 2025)
• +2 more outcomes

Named customers1 record

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature1 record

Partnerships

Four partnerships are on record, tiered minor and core.

• Association ASRA (Aide aux Soignants de Rhône-Alpes)minorStrategic or Co-development Partner · 1 January 2012Support network for distressed healthcare professionals created in 2012 by Rhône-Alpes Medical Association and URPS Auvergne-Rhône-Alpes, providing assistance to physicians facing burnout, depression, or addiction.
• Association MOTSminorStrategic or Co-development Partner · 1 January 2010Association created in 2010 in Toulouse by physicians to provide care for colleagues experiencing personal and professional exhaustion.
• URPS Médecins Libéraux (Regional Unions of Health Professionals)coreStrategic or Co-development PartnerRegional physician unions that collaborate with CARMF on events, forums, and member information sessions across French regions.
• GIP Info-RetraitecoreTechnology or IntegrationNational pension information group providing unified retirement request portal that integrates with CARMF systems for single-dossier pension applications across all mandatory pension regimes.

Scale indicators14 records

Recent moves6 records

Expansion highlights5 records

Market position

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/LACARMF
• LinkedInlinkedin.com/company/carmf

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CARMF