Four years after its launch, the Retirement Savings Plan (PER) confirms its position as an essential savings product for the French. At the end of the third quarter of 2023, the results are more than positive: more than 9.8 million New PERs have been subscribed, and are more than outstanding 95 billion euros. This exceptional dynamic concerns both corporate PER, collective and mandatory, as well as individual PER, capturing the latter alone 55.2 billion euros Outstanding and with more than 3.4 million holders.
An innovation resulting from the PACTE law
Introduced by the PACTE law to boost retirement savings in France, the PER was designed to make it more attractive to savers while meeting the financing needs of businesses. Its success reflects the adequacy of this product with the expectations of the French in terms of their retirement preparation, offering unprecedented flexibility and tax benefits.
Positive impact for savers and businesses
According to Bruno Le Maire, the success of PER is a victory not only for French savers, but also for French companies benefiting from the right retirement savings product. The latter find in PER a key partner to finance their long-term development, especially in terms of major ecological and digital transitions.
More than replacing old products
PER growth is not limited to conversion of older retirement savings products. Indeed, almost half of individual PERs correspond to new contracts, which shows the real attraction of the French people for retirement savings solutions. This trend underscores PER’s ability to respond to the demand for diversification and protection of savings in view of retirement.
future prospects
The success of PER, demonstrated by its rapid adoption and continued growth of its assets, lays the groundwork for a profound evolution of the retirement savings landscape in France. This dynamism paves the way for further reforms in the system with the objective of making it more attractive and useful for all economic and social stakeholders of the country.
PER is positioned as a leading retirement savings solution, whose success is based on its adaptability to savers’ needs and its role in supporting business lending. Its continued development promises to play a central role in France’s financial preparation for their retirement, while contributing to the country’s economic growth.
In essence:
- The Retirement Savings Scheme (PER) attracted more than 9.8 million subscribers and generated assets of more than 95 billion euros at the end of the third quarter of 2023, confirming its success.
- Introduced by the PACTE law, PER aims to make retirement savings more attractive and support the financing of French companies.
- The success of PER depends on its adaptability to savers’ needs, with about half of individual PERs resulting from new subscriptions and not transfers.
- Bruno Le Maire underlines the dual benefits of PER: an effective tool to prepare French people for retirement and long-term investment support for businesses.
- The continued growth of the PER reflects its central role in the evolution of retirement savings in France, benefiting both savers and the national economic fabric.
