It’s an end-of-year tradition: in October, Booklet A loses its leaves. This year, however, the wind blew harder and he lost more than usual, with an outflow of 3.77 billion euros (compared to just over a billion in October 2022). If we add the figures from its false twin, the Sustainable and Solidarity Development Booklet (LDDS), the outflow over one month reaches 4.44 billion, according to data published on November 21 by the Caisse des Dépôts.
“October is cursed for Livret A. Whether its rate is high or low, October rhymes with withdrawals. Over the last ten years, not a single positive collection has been recorded”, comments Philippe Crevel, director of the Savings Circle. These poor figures follow eleven months of positive collections for Livret A, which was notably buoyed by the increase in its remuneration from 2% to 3% at the start of the year, on 1er FEBRUARY.
What brings bad luck to this placement in October? The end of back-to-school expenses, payment of property taxes, first Christmas presents, etc. In addition to these classic motifs this year, Mr. Crevel believes, “the decline in price increases” and so ” households [qui] find the path to consumption ».
The rate of Livret A and LDDS, 3% since 1er August (exempt from income tax and social security contributions), will not change until 1er February 2025. This was decided by the Minister of the Economy, Bruno Le Maire, who announced, on July 13, his decision to no longer apply the regulatory formula for calculating half-yearly remuneration for eighteen months.
Term accounts and “super booklets”
“With the non-raising of the Livret A rate on 1er August, the Livret A returns to its usual seasonality, with a second half more oriented towards expenses following a first [semestre] more [orienté] saving “, adds Mr. Crevel. He further notes that “the wealthiest households having saturated their Livret A and their LDDS also tend to turn to term accounts, to SICAVs [sociétés d’investissement à capital variable] monetary or even “super booklets” [ces livrets dont le taux de rémunération est boosté durant quelques mois pour les nouveaux clients – ils font leur grand retour ces mois-ci dans le paysage de l’épargne] ». So many investments which have seen their attractiveness boosted recently by the overall rise in rates.
If October did not benefit the Livret A and the LDDS, it benefited a third tax-exempt investment: the Livret d’épargne populaire (LEP). The latter recorded a positive collection of 4.77 billion euros. Nearly 16 billion have been collected since the start of 2023 in this booklet accessible under conditions of resources. In 2023, the maximum reference tax income to be eligible is, for example, 21,393 euros for a single person, 44,243 euros for a couple with two children.
You have 10% of this article left to read. The rest is reserved for subscribers.