Retirement and employee savings
Contrat Madelin
The retirement contract for the self-employed, closed to new subscriptions since 1 October 2020, which can be kept or transferred to a PER.
Overview
Madelin contracts opened before 1 October 2020 continue to operate and can be transferred to an individual PER.
Reserved for the self-employed (craftspeople, traders, professionals, majority managers), the Madelin contract allowed contributions to be deducted from taxable profit, with a compulsory minimum annual payment. Exit is as a life annuity, taxed as a pension, with a possible reversion to the spouse. The Madelin contract has not been available to new subscribers since 1 October 2020. Existing contracts continue to operate under their own rules and may be transferred to an individual PER; for a new contract, the PER applies.
How it works
Contribution
Deductible from taxable profit
Capitalisation
During working life
Retirement
Life annuity
Key points
Strengths
- Contributions deductible from taxable profit for existing contracts
- Can be transferred into an individual PER
- Possible reversion to the spouse
- Protection cover sometimes attached
Points to watch
- Closed to new business since 1 October 2020: no new contract can be taken out
- Paid out as a life annuity (lump sum only in the cases provided for)
- Compulsory minimum annual contributions on contracts kept in force
- Annuity taxed as a retirement pension
Who it is for
Self-employed people who already hold a contract and are considering whether to keep it, transfer it to a PER or use the associated protection cover. For a new contract, the individual PER sheet applies.
Worked illustration
Example based on assumptions
Assumptions: a doctor in private practice holds a Madelin contract opened in 2015 and continues to contribute €8,000 a year, deductible from profit. The doctor compares keeping the contract, with a compulsory annuity on exit, and transferring it to a PER, which allows a lump-sum exit. No new Madelin contract has been available since 1 October 2020.
Regulatory information
This sheet is a general information document of a commercial nature. It constitutes neither personalised investment advice, nor a recommendation, nor a solicitation, and it is not a key information document. Any decision requires a prior analysis of your situation by a duly authorised professional. Investments carry a risk of capital loss. Past performance is no guide to future performance. Taxation depends on each person's situation and may change.
Savings unavailable until retirement or for five years, except in the cases provided by law. Unit-linked investments carry a risk of capital loss. The tax advantage on entry is matched by taxation on exit, depending on the exit method chosen. Annuities are taxed as pensions.
Complaints and mediation
Any complaint may be sent to ASTERALE, 4 allée Django Reinhardt, 94110 Arcueil, France, or to sebastien.bailly@asterale.fr. Failing a satisfactory reply within two months, you may refer the matter to the competent mediator. For financial investment advice: the AMF Ombudsman (Médiateur de l'AMF), 17 place de la Bourse, 75082 Paris Cedex 02 (www.amf-france.org/fr/le-mediateur). For insurance broking and intermediation, banking and payment services intermediation and property transactions: ANM Conso, 2 rue de Colmar, 94300 Vincennes (www.anm-conso.com, contact@anmconso.com).
Information sheet updated on 6 October 2026. Download the sheet (PDF)
Book a meeting
The first meeting, of about an hour, is used to check whether this scheme has a place in your wealth.