About 10 million employees have money in a savings plan. If you are one of them, Parliament has a pleasant surprise in store for you by adopting an exceptional release via the purchasing power laws. You have until the end of December to unlock your PEE.
Exceptional release of employee savings, the return! After the Sarkozy windows in 2008 or Hollande in 2013, here is the 2022 session. This was not launched by the government but by the senators, who inserted this boost into the purchasing power law during its pass the upper room.
The principle is simple: if you have money placed in a company savings plan (PEE) and would like to take advantage of it without delay, you can withdraw it now, without additional taxation, until the end of the year 2022. This withdrawal does not exceptionally require no reason for early release: usually you have to provide proof of an event such as a wedding, a PACS, a birth, a death, a real estate purchase, etc. You just have to ask your PEE manager to release it.
What savings can you unlock for no reason?
Don’t rush, however, since there are still a few conditions. First of all, an overall ceiling of 10000 euros savings can thus be released in 2022. And this release is done in one and only time: impossible to draw 1000euros at the end of October… then 2000euros before Christmas without reason. This exceptional release window 2022, open from August 18 until December 31, also only concerns are placed on a PEE before January 1, 2022: clearly, the profit-sharing or participation received in the spring of 2022 cannot go back and forth on your PEE with the help of this exceptional release.
In addition, you can only claim unblocking without reason on the sums received via profit-sharing or profit-sharing, before 2022, therefore: employer contributions in addition to your voluntary payments are excluded from this exceptional boost. For the employer’s contribution, only the sums having completed your profit-sharing or your participation can thus be released. It is also excluded from the exceptional release in 2022 of all amounts placed in retirement horizon employee savings plans, collective PERs or other Percos.
Last subtleties… Your salary savings invested in solidarity funds cannot be unlocked in this way, without reason, in 2022. Finally, concerning the employee shareholding fundit is necessary to have the agreement of the company before unblocking.
Can you use the unlocked amount as you wish?
No. At least in the texts. You agree to use the money released in this way to finance the purchase [d’un bien] or the supply of a [prestation de services], provides the law. It is up to you to keep proof of a purchase (no matter which one), just to show that you have not benefited from it to invest the sum withdrawn on another financial investment. Prohibited from using this sum to reinvest it in a savings product, nor to repay a loan, or close a loan early, nor even to pay your taxes, the Frequently Asked Questions from the Minister of Labor detailing precisely the terms of this exceptional release in 2022.
Your employee savings plan manager will declare to the Public Treasury the amount that you have released in this way. Only constraint on your side: To keep available to the General Directorate of Public Finance (DGFiP) supporting documents attesting to the use of the sums released for 3 yearswhich corresponds to the tax control period.
A totally net tax release?
Would there be another advantage of order tax? In the press, this release voted by the Senate was wrongly announced as exempt from income tax (like any withdrawal from a PEE) and social security contributions, which usually reduce your financial gains by 17.2%. However, the Ministry of Labor leaves no room for ambiguity: the financial gains made thanks to your PEE are indeed subject to social security contributions on investment products at the rate of 17.2%. Clearly: exemption from income tax, but social security contributions on earnings (and only on capital gains, not on all capital released). In short the same tax as for any withdrawal from a PEE, early or not.
What is the taxation of employee savings?
When can you break your savings plan?
Right now. After a slight false start in mid-August, with managers waiting for details from the Minister of Labor before really opening the way, the start was really given in mid-September with the publication of the Minister’s Frequently Asked Questions .
The request must reach your PEE manager or similar plan (intercompany savings plan, PEI, for example) by December 31, 2022 at the latest. If the request is made at the very end of the year, it will be accepted (…) that the release of the funds will only be carried out during the month of January 2023, specifies the Minister of Labor.
How to unlock your payroll if you have several managers?
Unblocking is done by one and only time… so what if you have multiple plans at multiple managers? There can be as many requests as there are managing bodies, within the limit of the overall ceiling of 10,000 euros, adds the minister.
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Don’t forget the 5 year rule
Let’s summarize: this exceptional release of up to 10,000 euros exempt from income tax only concerns the profit-sharing or participation that you have invested in your PEE before January 2022. You can claim this sum until the end of December, without justification, but you are supposed to use it to consume, bill support, and not to invest elsewhere.
Regarding your PEE, don’t forget that all sums placed for more than 5 years can always be withdrawn at any time, without this exceptional device: More than 50% of employee savings is available and can therefore be used at any time by savers, specifies the AFG, a group of employee savings managers. In other words: a jackpot of almost 150 billion euros exceptionally unlockable in 2022… half of which was already unlockable before the entry into force of the purchasing power law.
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