The remuneration of the People’s Savings Book jumps from 1% to 2.2%, Actualité/Actu Epargne

In parallel with the increase in the rate of remuneration of the Livret A and the sustainable and solidarity development booklet (LDDS) from 0.5% to 1%, the rate of the People’s Savings Book (LEP) will jump from 1% to 2.2% from February 1.

Protect against inflation

This new rate corresponds to the average inflation for the last 6 months of 2021, which was 2.2%. In order to protect savers with modest incomes from inflation, the LEP rate cannot be lower than this average at the time of its revision.

Resource ceilings

The LEP remains reserved for low-income households and is subject to resource ceilings (€20,016 for a single person and €30,706 for a couple). According to the government, 40% of French households are eligible for it, but half of them do not have one, even though this non-taxed savings account now offers a return more than twice that of the Livret A (2.2 % for LEP and 1% for Livret A).

” We will ask banks to promote this booklet “, announced this Friday the Minister of the Economy, Bruno Le Maire, on the 1 p.m. television news on TF1. Emails from the Directorate General of Public Finance are even planned in the coming days to encourage more eligible households to open an LEP.

Up to €169.4 interest per year

Since the LEP is capped at €7,700, it will yield a maximum of €169.4 in interest per year from February 1, compared to €77 if this same sum were placed in a Livret A or an LDDS, i.e. an additional €92.4. As for the Livret A and the LDDS, the funds deposited on an LEP are guaranteed and remain available at all times with non-taxed interest.

Simplification of formalities

The formalities for opening and controlling LEP have also been simplified since last year. In principle, savers no longer have to bring their tax notice to their bank to open this booklet or to present it each year to check that their income does not exceed the regulatory ceilings. Banks are in fact authorized to take direct responsibility for verifying the eligibility of applicants or holders of an LEP with the tax authorities.