2023-07-21 18:41:25
The conditions allowing holders of certain retirement savings plans (PER) to benefit from a capital payment have been extended, according to a decree from the Ministry of the Economy published on Friday.
The Ministry of the Economy has decided to broaden the conditions allowing holders of certain retirement savings plans (PER) to benefit from a capital payment, the whole sum at once, rather than a monthly annuity, according to a decree published on Friday.
The decree published in the Official Journal specifies that the small annuities already in the process of liquidation – that is to say that the holder, already retired, has begun to collect them – will be “likely to be redeemed”.
The holder will thus be able to be paid the annuity in full, “while this redemption might not be done until then only at the time of retirement”, underlines a press release sent by Bercy.
The PER is a “tunnel” product, which is envisaged over the long term. The payments are free, but will not be recoverable before retirement age, except in exceptional cases such as the purchase of a principal residence or well-defined “accidents of life”: invalidity, over-indebtedness, expiry of unemployment insurance rights, etc.
Investor Consent
At the time of retirement, two options are possible: a capital exit, a real innovation of this product compared to its ancestors PERP and Madelin contracts, but highly taxed, or an exit spread over time, in the form of an annuity.
In addition, insurers who distribute and manage PERs will now have to obtain the saver’s consent and will no longer be able to impose a capital release on him, as was possible until now for the smallest annuities.
These adjustments will “better protect the savings of retirees with a small pension under their retirement savings plan”, underlined the Minister of the Economy Bruno Le Maire, quoted in a press release.
This “will protect the fruit of their labor and strengthen their freedom of choice between capital or annuity exit”, he continued.
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