If the retirement savings plan (PER) is established in the savings landscape, it is partly thanks to its tax dimension. In fact, payments are deductible from taxable income, which allows you to save with the help of the Public Treasury. Before taking action, however, it is better to have a few things in mind.
First of all, all or part of this tax advantage will be taken back upon exit. Indeed, if you plan to recover your savings in the form of capital, the sums corresponding to the payments will have to be reintegrated into the taxable income at the progressive scale and the gains will be subject to the “flat tax” (30%).
If your marginal tax bracket drops in the meantime, that’s a win. Otherwise, it is only the capitalization effect that will benefit you, provided you reinvest the tax savings made in your plan. You will then save larger sums with an unchanged financial effort. The operation will be all the more interesting as you will make your savings grow for many years.
30% tax bracket
Second, the tax savings scale depending on your marginal tax bracket. Thus, a payment of 10,000 euros gives rise to a rebate of 4,100 euros for a household taxed at 41%. The tax saving amounts to 3,000 euros for those in the 30% bracket and will only be 1,100 euros for the 11% bracket. This is why the PER is recommended for the most heavily taxed households, from 30% and beyond.
Finally, deductibility is capped. Each person benefits from a retirement savings limit that is specific to them and which depends on their level of professional income.
Thus, you can deduct this year up to 10% of your 2022 income, with a minimum deduction set at 10% of the annual Social Security ceiling (PASS), i.e. 4,114 euros for 2023, and a maximum set at 10 % of eight times the PASS, or 32,908 euros. This information is available on your last tax notice.
There are also the unused ceilings from the previous three years. In fact, it is possible to combine them. Your payments will first be allocated to the ceiling for the current year, then to that of the most recent year, etc. A person opening a PER today, and having not paid into other retirement schemes in past years, can thus save a nice amount of tax with a payment which can reach more than 130,000 euros.
Ceilings for mutualizable spouses
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