When an “exceptional purchasing power bonus”, as it is officially called, becomes an annual and recurring boost. And when this boost even becomes a campaign promise. Continuation of our series on the reforms of the Macron five-year term.
Bertrand bonus or Macron bonus? At the beginning of December 2018, in the midst of the Yellow Vests crisis, it was Xavier Bertrand, who offered “a purchasing power bonus” of “a few hundred euros” without charges or tax. The president of the Hauts-de-France region, at the time not listed at LR, thus intended to defuse the escalation of the yellow vests crisis. A proposal that quickly seduced the tenants of Bercy… At the end of December 2018, this bonus exempt from social charges and income tax, was one of the emergency measures voted by Parliament. From January 2019, the brand new PEPA, for exceptional purchasing power bonus, is nicknamed “Macron bonus”, when the President of the Republic launches into the arena with his “great national debate”.
What the Yellow Vests Got on Purchasing Power
What is this bounty?
Prime Macron or PEPA, whatever its name, the original principle is that of an emergency, punctual measure, in the face of the crisis of the Yellow Vests. Version PEPA 2019 : a bonus of 1,000 euros for employees paid up to 3,600 euros net, the equivalent of 3 Smic, but only in companies willing to distribute it, provided the version before March 2019.
Initially, the collection PEPA 2020 is less generous. Except that at the end of winter 2020 the Covid-19 pandemic arose. The “planed PEPA 2020” becomes the “reboosted PEPA Covid”. Even better than the “Yellow Vests collection”: 1,000 euros totally tax-free for employees and companies, this time with a bonus of 2,000 euros in the event of a profit-sharing agreement as well as for so-called “2nd line” employees. . In the midst of a health crisis, the payment deadline has been extended to the end of August 2020… then to the end of December 2020.
Rebelote in 2021. First, nothing. Then in the middle of a “social dialogue conference” Prime Minister Jean Castex announced in mid-March that he would resuscitate the Macron bonus, collection PEPA 2021-2022, since its payment straddles two years. The “Macron 2022 bonus” is indeed still being distributed, since June 1, 2021. Deadline for paying it to employees: March 31, 2022. After March 31, the tax exemption jumps. The conditions are almost identical to those of the PEPA 2020: 1,000 euros totally tax-exempt for the same employees paid up to 3 Smic, without condition. But also 2,000 euros, unconditionally, in companies with fewer than 50 employees, for the “2nd line against Covid”, and in the event of profit-sharing for the largest companies.
Figures: triple success
PEPA collection 2019 : a box. More than 400,000 companies have announced that they have played the “Macron bonus” game. Result: 4.8 million beneficiary employees, for an average amount of 401 euros. More than one large company (250 employees or more) out of two paid the Macron 2019 bonus. One downside: only 17% in VSEs, even if the average amount there climbs to more than 500 euros in these small companies.
PEPA Collection 2020 : a box, bis. Nearly 5 million beneficiaries, again, for an average premium of 590 euros, we read in the annex to the amending finance law 2021. Finally more than 6 million employees would have benefited from it according to the latest figures delivered by Bercy .
PEPA Collection 2021, still in progress: an “almost” hit. “Almost 4 million employees in 2021 benefited from the payment of an exceptional purchasing power bonus by companies on a voluntary basis”, said the Minister Delegate for Public Accounts, Olivier Dussopt, at the Assembly, in remarks reported by AFP. Average amount: 506 euros.
Comparative savings books : 10 offers compared, up to 2% return
Boost, windfall effect or disguised employee savings?
Statistically speaking, Emmanuel Macron’s government is all good. But should we limit ourselves to the excellent statistical record? Not sure. First reviewsigned by INSEE, which points to a possible “windfall effect” from the 2019 bonus: “even if the bonus cannot replace salary increases nor to bonuses provided for by a salary agreement or by the employment contract, establishments would undoubtedly have paid, in a different form, at least part of the amount of this bonus in the absence of this measure”. In short, the Macron bonus does not replace other remuneration… but indirectly it sometimes allows not to increase the salary. Too bad for the employee: an uncertain bonus would thus take the place of a fixed and lasting increase…
Bonuses, telecommuting, restaurant tickets, transport… What to negotiate (in addition to salary)
Second reviewshared by most employee unions and issued in mid-March on the announcement of the return of the Macron bonus, season 2021-2022: “his optional payment by the employers is not up to the challenges, ”grunts the Unsa, in a projection similar to that of the CGT. Translation: this annual bonus depends solely on the goodwill of the employer.
Third downside. This Macron bonus is supposed to target the middle classes and be egalitarian within the company. But, in the same company, its amount maybe either “uniform”, either be “modulated” according to several criteria: remuneration, level of classification, duration of effective presence and duration of work. In short, a mode of modulation which resembles that of profit-sharing or participation…
“It should not end up replacing employee savings”
“It’s always welcome for the employee! begins Hubert Clerbois, president of the firm specializing in company savings and social protection EPS Partenaires. Before being much more skeptical about the merits of this PEPA: “It was originally a reaction to a crisis. However, companies already had participation and profit-sharing schemes. From time to time, in a context of crisis, this bonus was able to encourage companies to pay money without too many constraints. Corn it was not meant to last. »
Gentle 4th perverse effect : “In the labor code, it is written that employee savings must not replace remuneration, bonus included, insists Hubert Clerbois. In this sense, this Macron bonus is paradoxical since it riskshe, to replace employee savings…” Problem, for the employee: this PEPA dependent on the generosity of the employer would take precedence over devices that are much more supervised, restrictive, and therefore safer to be renewed in the coming years.
Fiscally speaking, do employers have an interest in favoring the Macron bonus over an employee savings scheme? No : ” For companies, PEPA has the advantage of simplicity above all. Taxation, with a zero social package for VSEs and SMEs [jusqu’à 250 salariés pour l’intéressement, jusqu’à 50 salariés pour la participation, NDLR] the existing devices are already very advantageous. »
A bonus inscribed in marble in the event of re-election?
Overall appreciation of the PEPA: mixed copy, excellent in maths, uneven argument. However, the president-candidate persists and signs … and even wants to reinforce this bonus, which will be tripled (3,000 euros without conditions, 6,000 euros in the event of profit-sharing) in the event of re-election. The PEPA would even become the third pillar of employee savings within an overall concept of “employee dividend” which would force any company paying dividends to pass them on to its employees, and this for companies with more than 10 employees instead of 50 today (threshold of obligation to set up participation).
Profit-sharing, participation, PEE, PER: who is entitled to what for their employee savings?
“The PEPA is not intended to replace profit-sharing or participation! ” answers MoneyVox Laurent Saint-Martin, rapporteur for the Budget at the Assembly and relay of the candidate Emmanuel Macron on financial subjects. ” We create tools that are more accessible to everyone. Because all companies do not have the facility to set up participation, profit-sharing or employee share ownership. The sustainability of the PEPA and its increase will allow all levels of companies to respect this profit sharing rule. The exceptional bonus blown in December 2018 by Xavier Bertrand has changed a lot.
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