Overview
- The Plan d’Épargne Retraite (PER) has passed €150 billion in assets after rising about 20% in a year, according to the Economy Ministry.
- Nearly 13 million people now hold a PER, which is designed as a long-term account locked until retirement.
- Contributions are tax-deductible, so a €1,000 payment for someone in the 30% bracket can reduce taxable income by €300.
- Typical returns are about 3% to 5%, above the Livret A’s 1.5%, said Philippe Crével of the Cercle de l’Épargne.
- Officials and experts say the growing pool of PER savings helps finance companies by channeling money into long-term investment funds.