Retirement and employee savings
PER individuel (individual retirement savings plan)
The individual retirement savings plan, deductible on the way in up to €37,680 in 2026 and available at retirement.
Overview
The PER allows contributions made during working life to be deducted from taxable income, in return for taxation on exit.
The individual retirement savings plan, created by the PACTE Act, receives contributions deductible from taxable income. The limit is 10% of the previous year's professional income, with a ceiling of €37,680 for 2026 contributions and a minimum of €4,710. Unused ceilings can now be carried forward for five years, and contributions made from age seventy are no longer deductible. Savings are locked until retirement, except in the cases provided by law (purchase of the main residence, life events). Exit is as capital, as an annuity or a combination of both. Capital arising from deducted contributions is taxed on the progressive scale, and gains at the 31.4% flat rate (18.6% social contributions since 1 January 2026).
How it works
Contribution
Deductible from taxable income
Capitalisation
During working life
Retirement
Capital or annuity
Key points
Strengths
- Contributions deductible from taxable income in the year paid, up to €37,680 in 2026
- Paid out as a lump sum or an annuity at retirement
- Favourable transfer on death before age 70
- Early release possible (purchase of main home, life events)
Points to watch
- Capital locked in until retirement, except release events
- Capital taxed on exit, often at a lower rate than on entry
- Entry and management fees, to be compared carefully
- No deduction for contributions paid from age 70 onwards (since 2026)
Who it is for
Taxpayers whose marginal rate is high during their working life and will be lower in retirement, and who do not need these savings before then. Early release for the purchase of a main residence does not cover rental investment.
Worked illustration
Example based on assumptions
Assumptions: an executive aged fifty, taxed at 41%, pays €10,000 into a PER in 2026, within a €37,680 ceiling. Their tax falls by €4,100 in the year of payment. At retirement, the corresponding capital will be taxed on the scale then in force, and gains at the 31.4% levy. The real advantage depends on the gap between the tax rate on entry and the rate on exit.
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.