The retirement savings plan (PER) is a long-term savings product, so that with such an investment horizon, the costs play a considerable role. A little simple calculation is enough to be convinced.
Suppose a payment of 50,000 euros placed on media yielding 4%. It can be accommodated in a first contract comprising entry fees of 3% and annual management fees of 1%, or in a second contract without entry fees and with management fees reduced to 0.60% annual. After twenty-five years, the saver will be at the head of a capital of 101,548 euros in the first case and 115,341 euros in the second. This means that with the same savings effort and the same risk-taking, the contract with less costs will allow him to earn almost 14,000 euros more. However, in the PER, there are fees on all floors.
On July 20, Corinne Dromer, president of the Financial Sector Advisory Committee, alerted the Minister of the Economy, Finance and Recovery on the subject. In a report, it states: “The costs of individual insurance PERs, which include insurers’ fees and management company fees, are numerous, regardless of the players and the contracts considered, and this accumulation of fees weighs on the performance of the contracts, a fortiori in a low interest rate environment which is the one that prevails at the time of the marketing of PERs. “
In the process, Bruno Le Maire urged professionals in the sector to improve their practices, considering that “Market players take commissions or fees that are excessive”.
While waiting to see the market evolve, the saver must exercise the greatest caution.
Which expense items to study in particular? Start with the installment fee. These are taken each time you deposit money into the contract. A certain number of distributors do not take it, in particular Internet players. Others show high amounts (5% at Agipi and Aviva, 4.85% at Axa, 4.50% at Groupama and Generali, etc.) even if these maximum rates are not always charged.
Indeed, these costs are at the good will of the advisor. The latter can therefore make a commercial gesture and reduce them, especially if you are a good customer. It is a favor that must always be claimed. Some players limit them in the event of scheduled payments: at the MACSF, they go from 3% to 0.60%.
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