Published in the Official Journal, the green industry law creates a new regulated savings product, the Future Climate Savings Plan. You will have to wait, at best, until mid-2024 to subscribe. Here, in the meantime, are the known characteristics of this new placement.
It is now a certainty. The Climate Future Savings Plan, a new regulated investment born from the will of Bruno Le Maire, the Minister of the Economy, will see the light of day. The law relating to green industry, which serves as its legislative vehicle, was published yesterday Tuesday October 24 in Official newspaper.
Before you can subscribe, you will have to wait. The official birth of the product requires a decree in the Council of State, the publication of which is planned no later than July 1, 2024. It will specify the details of how this new product works. In the meantime, here is what we already know about the Future Climate Savings Plan (PEAC).
Is the PEAC open to everyone?
Unlike certain regulated savings products, such as the Livret A or the securities account, the PEAC will not be universally accessible. Its detention is reserved for those under 21 years old. It can, however, be opened by parents as soon as their children are born, which will make it – alongside the Livret A, the PEL or life insurance, in particular – one of the few investments open to minors and new-borns. ns.
Is the PEAC a booklet?
No. The executive, for a time, considered the possibility of creating a green book, within the framework of the law relating to green industry. But this track has been abandoned.
The PEAC is similar, in its operation, to the Stock Savings Plan (PEA). It’s about a tax envelope which will allow investment in financial securities contributing to financing the ecological transitionvia a securities account and a cash account, or a capitalization contract for plans opened with an insurer or mutual insurance company.
What titles? It will be up to the upcoming decree to specify the securities and financial instruments in which the future climate savings plan can be invested, the savings allocation principles to which it is subject and the investment strategies that it can propose. .
The objective is clear, however. It is mobilize private savings and engage young peoplefor the benefit of industrial companies contributing to the climate transition.
Remuneration undoubtedly more attractive than Livret A
How much will the PEAC bring in?
Unlike, again, regulated savings accounts, the remuneration of the PEAC will not be not fixed by regulations. It will depend on the performance of the securities in which the money was invested. As for regulated savings accounts (Livret A, LDDS, LEP), the income derived from these investments will be fully exempt from tax and social security contributions.
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When unveiling the product, the Minister of the Economy announced that its remuneration would be undoubtedly more attractive than Livret A.
Will the money placed in the PEAC be guaranteed?
This is another difference with the Livret A and the Livret Jeune, regulated products also accessible to minors: the capital invested in the PEAC will not be not guaranteed 100%. But its default management mode will be designed to limit the risk of loss. When the plan is opened, more offensive (risky) investments can be made. Then as the holder approaches the age of 18, the funds will be placed towards increasingly secure investments (green bonds). The objective is to guarantee long-term capital. In other words, before age 18, there will be a risk of capital loss. After 18 years, still a risk, but more limited. 99% of the capital is guaranteed upon exit, promised Bruno Le Maire. A progressive limitation of risks approaching the pilot management of the Retirement Savings Plan, where assets are secure as the retirement age approaches.
Will the money placed in the PEAC be available?
No. THE withdrawals will be impossible before the holder reaches the age of majority, except in the event of disability or death of one of his parents. From the age of 18, and provided that the PEAC has been in existence for at least 5 years, it will be possible to make partial withdrawals. However, new payments will be prohibited. The plan is called closed on the 30th anniversary of the holder.
Will the PEAC be capped?
It is the decree that will be issued which will set the amount of the PEAC payment ceiling. But, according to the Minister of the Economy, it should be modeled on that of the Livret A, i.e. 22,950 euros, excluding capitalization of interest.
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