More than 10 million holders, 100 billion euros: the Retirement Savings Plan is a hit

The Ministry of the Economy announced on Sunday that the Retirement Savings Plan (PER) system had crossed the thresholds of more than 100 billion euros in assets and 10 million holders at the end of 2023, results “ which exceed expectations.

At the end of 2022, the PER totaled 80 billion euros in assets and more than 7 million French people had subscribed to one. “As of December 31, 2023, based on data made available by all professional federations marketing PERs, more than 10 million people already benefit” from a PER and “the outstanding amounts established on these PERs reach 102.8 billion euros”, indicates Bercy in a press release, welcoming “results which exceed expectations”. “This dynamic concerns both corporate PER, collective (23.4 billion euros of outstanding) and mandatory (19.5 billion euros of outstanding), as well as individual PER (59.9 billion of euros outstanding and more than 3.69 million holders),” details the press release.

Resulting from the 2019 Pacte law, the PER is a savings tool to prepare for retirement. Payments are free, but cannot be recovered before retirement, except in exceptional cases such as the purchase of a main residence or well-defined “life accidents” (disability, over-indebtedness, expiration of unemployment insurance rights, etc.). .). At the end of professional life, two options are possible: a lump sum payment or spread out as a monthly annuity.

“Instead of the numerous products (PERP, Madelin, article 83, PERCO), with heterogeneous and complex operating rules, the new PER is a particularly attractive product which offers numerous advantages,” highlights Bercy. The Minister of Economy and Finance Bruno Le Maire, quoted in the press release, welcomed “a success for French people who now have a savings product adapted to prepare for their retirement. But it is also a success for our companies which need long-term investments to support them through major transitions.”