PER: the unsuspected rights of your spouse


Since October 1, 2019, the PER (Retirement Savings Plan) has gradually replaced the other retirement savings plans. Available in three different forms, an individual PER and two company PERs, it is a perfect way to contribute and provide a significant additional income when you retire. It is also an unknown method to support your loved ones and offer them important rights in the event of disappearance.

To choose your PER, it is better to inform yourself about its tax advantages and how it works. Whether you are an employee, self-employed, retired or even inactive, you can take out one or more PERs. It is thus possible to take care of these procedures from the age of majority and there is no age limit for opening a PER. Unlike an old retirement savings product such as the Madelin, you are independent in funding your PER. Your payments can be free or scheduled and are not subject to sum obligations, as well as regular deposits.

If the redemption of savings is not possible before retirement, some special cases apply. In the perspective of the purchase of a principal residence, the occurrence of a disability, the death of your spouse or the expiry of your Assedic rights, a release may be granted. Regarding the taxation rules of the PER, your investment is deducted from your taxable income, within the limit of a specific amount. The tax gain is assessed on the basis of your taxation.

When you have invested savings in a PER, capital is created. Recognized as a tunnel product, the PER is blocked until you retire. Depending on the legal age planned for your retirement, you can benefit from it between 60 and 62 years old. At the time of your retirement, it is thus possible for you to recover it, whether in the form of capital or a life annuity.

Before the PACTE law, passed in December 2019, only 20% of the capital could be withdrawn, but it is now possible to recover 100% of the PER in capital. The sums paid into your PER remain deductible from taxable income, but they are however taxed when the plan is liquidated. If you can completely deduct the amount paid from your taxable income, up to a ceiling of 10%, you are subject to income tax when withdrawing your capital.

Subscribing to the PER is an adequate way to support your loved ones, especially your spouse. For example, in the event that the PER does not undergo any liquidation, the income tax disappears. In the event of death, the heirs of the subscriber can thus obtain the sums paid without having to pay tax formalities. Only inheritance costs are claimed from them.

In the perspective where the heir is also the surviving spouse, the latter recovers all of the PER, which exempts him from income tax and inheritance tax. He can also, if his own PER has not yet been transformed into capital, liquidate it thanks to article L 224-4 1° of the Monetary and Financial Code authorizing its early release.