Created in May 2019, to breathe new life into retirement savings, the retirement savings plan (PER) is a unique system which replaces various dedicated savings products. When it was created, the specifications included the desire to standardize the rules. But, despite this effort at simplification, the PER remains a complex solution, with numerous rules. Here are some pitfalls to avoid.
Put all your savings there
We must not forget that PER is a tunnel product. In other words, the savings stored in this envelope are blocked there until retirement. There is indeed cases of early release, such as the acquisition of one’s main residence or life accidents (disability, death of a spouse or civil partnership partner, expiry of unemployment rights, over-indebtedness and cessation of self-employed activity following a judicial liquidation judgment) , but the latter are intended to respond to exceptional and dramatic cases. “The PER is one brick among others, which must be integrated into a heritage strategy with a global approach”underlines Julien Male, deputy general director of the Laplace wealth management consulting group.
Before subscribing, you must of course have sufficient precautionary savings, but also one or more liquid savings envelopes such as life insurance. These will make it possible to finance projects that will take place during working life, such as a real estate purchase, children’s studies, etc. For a given savings capacity, a good portion must therefore be allocated to these projects, and only the balance at retirement.
Pay without tax
The system provides that payments are deductible from taxable income, then taxed on exit. Even if the marginal tax bracket remains the same, it is interesting for the subscriber, because this shift in tax over time makes it possible to invest more and, thus, to grow savings which would not have existed in the absence of a tax boost. However, it is also possible not to opt for deductibility and, thus, not to be taxed on the amounts recovered on exit. It is the saver’s choice for each payment. But, in this case, what is the point of opting for an investment blocked until retirement?
In the absence of tax gain on entry, it is better to favor life insurance which offers greater flexibility. “There is an exception for expensive people, estimates Albert d’Anthoüard, director of private clients at the online advice and investment platform Nalo. For them, it can be useful to invest in a secure environment in order to avoid breaking the bank at the first request. »
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