on Tuesday, in the framework of the new plan, the retirement savings intended by the law Covenant, new products will be marketed.
The financial institutions will be Tuesday the kickoff of the new plan, the retirement savings intended by the law Covenant, with the opening to the marketing of products known to make this type of savings more transparent and finance more efficiently to businesses.
The retirement savings plan allows you to accumulate a nest egg during their working life to build up retirement incomes that are complementary to pensions paid by the pension schemes mandatory. Overview of the amendments provided for by this reform.
under contract
For months, banks and insurers have stepped up efforts to be ready for the D-day : the three contracts are to be a substitute to offering products that are complex, fragmented (Perp, Perco, article 83, Madelin, etc) and the rules of which heterogeneous were not favourable to the financing of companies.
Your support is essential. Subscribe for $ 1 support Us
In detail, two new savings products corporate retreat will be on the market : a product of collective, open to all employees and replacing the current savings plans for retirement collective (Perco), and a product that can be reserved to certain categories of employees only, who must be the successor to the contracts so-called “article 83”.
A third of retirement savings, individual this time, will be proposed in the form of a securities account or insurance contracts. This type of contract will replace the current devices “Madelin” and to the savings plans popular retreat (Perp). Marketed from Tuesday, these products will share the same exit rules, transfer and taxation.
Output in an annuity or in capital
This is one of the major developments permitted by the reform: at the time of retirement, the persons who have signed a contract pension and retirement savings may choose to liquidate their contract in the capital or annuity, or, in other words, at one time, or in the form of regular payments.
The conditions of an early exit will also be harmonised: beyond the case of release due to accidents of life, the withdrawal of voluntary savings, and pay will be possible for the purchase of the main residence.
Until now, the means of exit contracts were inflexible, and most of the contracts proposed only an exit to a life annuity, that is to say, in the form of a sum of money paid monthly, quarterly or annually to a beneficiary until his death.
greater portability
throughout his life, the investor will have the opportunity to consolidate his savings in a single product. It will be free to transfer its contracts, before and after retirement, which should help to make the retirement savings better adapted to the changing life courses and careers. This device must also encourage competition between providers.
Until now, the accumulated savings was a little portable. The investors sometimes had to combine several savings products without the possibility of consolidation or transfer.
This reform will benefit investors already fitted : holders of contracts Perp, Madelin or Préfon will be able to transfer their savings into a new retirement savings plan starting on the 1st of October, to be in the same handler, or in a new manager, to take advantage of the new rules opened up by the law Covenant. They will be able to choose to keep their current product, whose rules of operation will remain unchanged.
Generalization of the management-led
Invest in stocks or bonds? Play the caution or take more risks? Saving for retirement means putting money during a long time, which can make it difficult for a private individual – warned or not – to properly manage its investments.
To overcome this obstacle, will be proposed by default the implementation of a “management driven” savings, that is to say, entrusted to professional operators.
“The management-led retirement savings will help to optimize the management of this savings to provide better returns to future pensioners and funding is more abundant for companies”, according to the government.
Coaching fees
The transfer of the contracts will be free if the product has been held for at least five years. Before this date, the transfer fee may not exceed 1% of the amount outstanding. Until now, the levels of fees could be high and the yield is sometimes unsatisfactory, for lack of ability to optimize investments.
Read our complete file
retirement Savings
Independent : do you need to unlock your retirement savings? Life insurance: your savings are guaranteed? The PER will he dethrone the life insurance ?
Tax harmonized
The possibility to deduct from the tax base on the income of the voluntary payments will be extended to all savings products retirement (within the limits of the existing ceiling). Investors with a life insurance benefit in addition to advantage additional tax in case of transfer of their life insurance policy to their retirement savings.