The PER (retirement savings plan) from the 2019 French PACTE law aims to simplify former plans and greater flexibility. As a result, previous provide retirement plans can be grouped together. (PERP, Madelin, Préfond, other PERs…)
An essential tool while preparing for retirement, it lets you save while lowering your tax bill through deductions in the premiums paid (in certain tax jurisdictions).
It is indispensable to complement retirement income and allows the account owner to choose when and how they want to withdraw. (According to situation: lump sum, split sum, annuity).
- The Plan d’Epargne Retraite (PER) is a multi-fund policy in euro funds and unit-linked funds with planned and independent payments intended to build up retirement savings.
- You can deduct contributions from your taxable income, subject to certain limitations.
- Once you are retired, you can choose to be paid in one or more lump sums, or to receive an annuity.
- It is also possible to make early withdrawals according to the legislation in effect (for example, in case of an accident or the purchase of a primary residence).
- These policies also include additional protection expressed in the form of “contribution deficiency coverage” in the event of death during the savings phase.
- A mandatory PER is a policy offered by a company to help its employees prepare for retirement.
- Available to some or all employees to help them build up retirement savings.
- Withdrawals in the form of annuities to complement future income.