2024-01-03 12:12:59
When you are a liberal professional or independent, the subject of retirement and the financial safety net is not anecdotal. In this column, Jérôme de Villèle, general manager of AMPLI Mutuelle, details the interest for these health actors in subscribing to an Individual Retirement Savings Plan (PER).
When you are an independent worker or a liberal who works in the health field, there are at least three good reasons to open a PER.
Three reasons to open a PER
The first good reason to open a PER when you are independent is to prepare for your retirement, more precisely to complete it.
The retirement savings plan is undeniably the best way to build up capital or additional income when retirement age arrives. This is all the more important for liberals and independents as the compulsory schemes for these professions offer contribution rates throughout the period of activity that are too low to ensure income maintenance upon retirement.
Without savings, the self-employed inevitably suffer a significant drop in their income. According to the statistics, liberal medical professions only receive between 25% and 40% of their working income once they retire, the numbers speak for themselves. This is why I encourage them to save throughout their working lives, in a simple and transparent way with a secure, high-performance savings product.
The other major advantage of the PER is undoubtedly its taxation.
You can in fact deduct part of your payments from your income, within the limits of the ceilings set by law and your tax availability. The tax advantage also lies in the choice of taxation at entry or exit from the contract.
What you need to know is that the higher your tax bracket, the more it will be wise to opt for deductibility of your payments upon entry. Conversely, if your tax bracket is low, prefer an absence of deductibility of payments to benefit from reduced taxation on withdrawal as an annuity or capital.
In summary, when you fund your retirement savings plan, you can deduct the amount paid from your taxable income within the limits of the latter’s Madelin ceiling.
Once retired, when you decide to recover your savings, the payments which benefited from the tax advantage upon entry, as well as the interest generated by the capital, are therefore subject to income tax.
The last strong point of the PER is the possibility of withdrawing capital or annuity.
This is in fact something new compared to older generation retirement savings contracts, which only allowed an annuity withdrawal. The PER offers, for its part, great flexibility in choosing the purpose of the savings you have built up throughout your working life. Annuity, capital, or even a mix of the two, you are free to choose what best suits your needs when retirement age arrives.
The right age to open a PER
It remains to be seen when to open this PER. It is never too early or too late to decide to open a Retirement Savings Plan.
However, the sooner the better. If you decide to open a PER from the start of your career, this will allow you to fully benefit from the tax advantages of this system.in short, this makes it possible to increase the tax deferral.
However, I usually advise those around me who ask me for advice to first invest in their main residence before considering any other type of savings. However, nothing prevents a liberal or self-employed person from opening a PER at any time in their career, while keeping in mind that the savings effort will be all the less penalizing if the contract is open. early in his career.
Capital or income?
A person who reaches legal retirement age can liquidate their rights; this moment does not necessarily coincide with the actual transition to retirement. This liquidation can take two forms, either in the form of an annuity or in the form of capital.
In the form of an annuity, you sell your capital, but in exchange you receive your pension in the form of annuity arrears*** until your death. In the form of capital, you draw from the amount of your savings the sums you need in one go or in several installments. You also have the option of choosing a mix of the two.
In terms of taxation, that of the PER has been improved for savers. In the event of a capital outflow, the portion of the capital gains generated is taxed up to the “ flat-tax », 30%, the payments are reinstated, with a deferred effect, to income tax. And in the event of an annuity withdrawal, there is no distinction between payments and capital gains, all annuity arrears are reinstated in income with a 10% reduction.
The benefit of accumulating contracts
Nothing prohibits having several retirement contracts and nothing prohibits combining old retirement contracts with a PER. The spirit of the law still goes in the direction of grouping retirement contracts within the same PER, in particular thanks to the system of capping costs during transfers. However, if you already have retirement contracts, even PERs, it is entirely possible to open a new one elsewhere.
In this logic, and to the extent that AMPLI-PER Liberté is a particularly interesting contract, as the specialized press constantly reminds us, it is interesting to request a study in order to know the possible benefits that a transfer of old retirement contracts would generate. to AMPLI-PER Liberté.
*The counterpart of performance is the taking of risk of capital loss.
**Sources: professional funds for liberal medical professions
***Pension arrears: amount of annuity paid monthly in arrears to the beneficiary.
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