The renewed interest of French savers in the stock market seems to be confirmed. In 2020, driven by a feeling of opportunism when the financial markets had suddenly lost 30% to 40% of their value, the French were more active in the markets than usual. And according to the Autorité des marchés financiers (AMF), the number of individuals who bought shares in the first quarter of 2021 remains at a high level, with 602,000 investors.
This is good news for the share savings plan (PEA), neglected by savers for many years.
While its holding rate stood at over 15% at the start of the 2000s, it was only 11.8% after the 2008 financial crisis. , 5% and 8% in recent years.
Exempt earnings after 5 years
This decline does not do justice to the many strengths at the disposal of the PEA. Starting with unbeatable tax terms. This envelope, reserved for investors having their tax residence in France, makes it possible to avoid any tax on income on gains – capital gains as dividends -, subject to keeping their capital in the plan for at least five years to from its opening date.
Unlike an ordinary securities account, “The PEA allows dividends to be collected and reinvested without taxation and without paying social security contributions for each collection”, explains Vincent Pelsez, private banker at Natixis Wealth Management. For a withdrawal before the five years of the PEA, the gains are taxed by default at the “flat tax”, therefore at the rate of 12.8% (we can opt, otherwise, for taxation at the income tax scale. for all of its securities). Social security contributions are always due during a withdrawal, regardless of the age of the plan, at the rate in effect at the time of this withdrawal – 17.20% today.
The Pacte law has also relaxed the conditions for withdrawal: from now on, partial withdrawals after five years no longer lead to the closure of the plan, it continues to operate and can accommodate new payments.
The PEA, capped at 150,000 euros, has a version dedicated to small and medium-sized enterprises, the PEA-PME. The whole cannot exceed 225,000 euros per person, which nevertheless allows a couple to invest up to 450,000 euros tax-free. A Youth PEA for 18-25 year olds has also been created. “It is possible to open a plan for an adult child under 25 attached to the tax household, specifies Christelle Sauvage, Director of Wealth Engineering at Indosuez Wealth Management France. Payments are limited to 20,000 euros until the end of the connection. “
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