The PEL is a seemingly simple investment, with a fixed rate throughout the life of the plan, but ultimately quite complex in operation. Hence the many questions received by the editorial staff about it. Here is that of Corsica, which is thinking of closing its 2.5% PEL to open a new one.
Question from Corsica20116, August 12
Can a new PEL be opened, after having closed one, without a works project? My current PEL is over 10 years old and opened after 2011.
Yes, Corsica20116, you can close your PEL to open another immediately. The only setback will be a likely processing time a few days, maybe weeks. What you do not have the right to do, however, is to open a new PEL before having closed the old one: each adult or minor can only hold one plan. housing savings at a time (1).
Let’s take a closer look at your ELP. You indicate having opened it after 2011, which indicates that your plan can in the best case live for 15 years, at best 10 years of payments and 5 years of waiting before closing.
Should we hasten to close a PEL rmunr 2.5%?
You also point out, Corsica, that your plan is past its 10th anniversary. So you can no longer pay money on it. All these indices make it possible to guess that your plan earns you 2.5% each year… and that it will soon be subject to flat tax (30% of total interest, including 12.8% income tax) on his 12th birthday.
Housing savings plan: when will I pay taxes?
So the following question remains, implicitly: are you interested in closing your current PEL? Which one is paid 2.5% gross, so soon 1.75% after tax and social contributions.
On the other side, a new plan brings in 2% gross, but it is taxed from the first year, i.e. 1.4% after tax. A new plan will therefore earn you less than the current one.
However, the question remains whether you need the savings accumulated on your old PEL. Closing the old to open a new allows you to have savings for your short-term projects, possibly placing these savings on other better paying products (starting with a Livret A or even an LEP while remaining in the fold of regulated savings)… and forcing you to save a minimum of 45 euros per month on the new . It’s up to you to arbitrate, Corsica.
Housing savings plan: for whom the 2% PEL is really a good deal?
(1) Apart from the very specific case of certain PELs inherited.