The retirement savings plan (PER) was created on 1er October 2019 within the framework of the Pacte law (Action plan for the growth and transformation of businesses). Its vocation: to replace all other retirement savings schemes, whether individual – popular retirement savings plan (PERP) and Madelin – or collective – collective retirement savings plan, Perco and “section 83”. The creation of this single envelope made it possible to standardize and modernize the rules of the old products to make retirement savings more attractive. Success seems to be at the rendezvous.
According to the Ministry of the Economy, 3.8 million French people had a PER at the end of June 2021, representing a total savings of 44.8 billion euros. Satisfactory results for Bercy, which hoped for three million PER at the end of 2022. Admittedly, a good part of this sum comes from the transfer of old devices to new contracts, without real creation of savings.
But in the opinion of many distributors, the product is finding its audience. “The PER already represents 30% of our new business this year, even though it is the last quarter which is the most favorable period”, indicates Mathieu Ramadier, director of the insurance offer of the online broker Assurancevie.com. Same story with the MACSF mutual. “We have opened as many PER in eighteen months as Madelin over the last twenty years”, assesses Guillaume Rosenwald, Managing Director of MACSF Epargne Retraite.
While PER is a commercial success, it is nonetheless a complex product. Update on the main characteristics of this envelope.
A unique product, or almost
The concept of PER is that of a unique product dedicated to preparing for retirement, which workers will keep throughout their working life. In fact, it’s a bit more complicated than that. There are in fact three variants of the PER: the individual PER, successor to the PERP and the Madelin, the collective PER, heir to the Perco, and the compulsory PER, a revised version of “article 83”.
The individual PER can be taken out on a personal basis by an employee, a self-employed person, a business manager, etc., with his bank, his insurer or his mutual insurance company, a broker, a management consultant of heritage …
The other two PERs are formats reserved for companies. It is therefore the employer who sets up the system for his employees, who are free or not to join depending on the option chosen.
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