When the time comes for retirement, your annual income may experience a significant drop that is essential to deal with. Throughout your professional life, it is better to anticipate this possibility by investing in reliable savings solutions such as supplementary pensions. Among the contracts to consider, you can therefore turn to the Corem contract, a retirement savings plan initially reserved for civil servants. How does it work and how can you access the funds?
Managed by the UMR (Union Retraite Mutualiste), the Corem scheme offers a savings solution also called “supplementary retirement”. Originally, this option was offered to civil servants, but it is now open to everyone. From the age of 18, it is thus possible for you to take out a Corem contract, where you will deposit a minimum of 200 euros per year. The savings will then be blocked until you turn 55, at the earliest, except in the event of early release. Since this solution is one of the PERs, you can also deduct the payments made on this contract from your income.
Like all PERs, however, it is not possible for you to release your funds at any time. You must, in fact, wait until you are at least 55 years old and the withdrawal of your savings will, most often, be made by annuity. It is also possible to opt for a Corem exit in capital or by mixing annuity and capital. The reference age for liquidation is 62 (soon to be 64 if the pension reform is implemented) especially since if you want to liquidate your supplementary pension earlier, a discount will be automatically applied. During your liquidation, the calculation of your Corem pension will therefore be carried out according to the following formula: “Number of points acquired x service value of the Corem point”.
