Do you know the time savings account? It is, explains the French administration on the site of the public service, a device which “allows the employee to accumulate rights to paid leave or to benefit from remuneration (immediate or deferred), in return for periods of leave or rest not taken, or the sums allocated thereto”. “The conditions of use of the rights acquired by the employee are specified by the convention or the agreement providing for the opening of the CET”, we can still read on the official platform.
However, recalls Notre Temps on its site, the time savings account has many interests that are difficult to consider on the basis of this definition alone. Namely, it can prove to be incredibly useful as you approach retirement. In some cases, it can allow you to end your career before the initial expiry date, while in others, it simply offers the possibility of inflating the amount of your final pension. Provided you know how to go about it… and have had the opportunity to open one!
Attention ! If the time savings account theoretically makes it possible to retire… This does not mean that it makes it possible to accelerate the process of cessation of activity. In concrete terms, you should therefore not expect a faster payment of your first pension after the liquidation of your rights.
That being said, the rights accumulated on the time savings account can make it possible to stop working earlier than planned. All while continuing to receive his salary and still benefiting from the advantages associated with employment…
Since the time savings account makes it possible to stop working without ceasing to benefit from the advantages associated with belonging to the company, this means that the beneficiary continues to contribute. Very concretely, the employee therefore continues to contribute… and can, without working, acquire new quarters of retirement.
In fact, Notre Temps again notes, this is therefore an opportunity to stop working … while continuing to potentially inflate the amount of his pension. The CET can therefore be a considerable asset in the sleeve of a future retiree who has had the opportunity to take advantage of it.
But who are these happy chosen ones?
The time savings account, explains the newspaper Notre Temps, is not necessarily accessible to all employees.
It is up to the company to decide whether or not to set it up, and when it is decided to offer it to employees, “the provisions of the CET are set by convention or company or establishment agreement (or, default, by convention or a branch agreement)”, specifies the administration on the site of the public service.
If necessary, continues the official platform, “the employee is not obliged to use it”. However, he can assign rights to it if he wishes.