The Covid-19 did not get the better of the new retirement savings products, on the contrary. Nearly 210,000 contracts have been taken out since the launch of the Individual Retirement Savings Plan (Perin) last October, bringing the outstanding amount to more than 1.5 billion euros according to figures from the French Insurance Federation ( FFA) at the end of June that Le Figaro procured . These contracts, designed to replace the old PERP and Madelin, had already gotten off to a flying start, with 84,000 Perins open as of December 31. But with the Covid, one would have expected subscriptions to collapse. It has not happened. It is all the more surprising that the confinement penalized life insurance, which has been on the rise since March.
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“The Perin is a huge success. With us, it is driven by subscriptions from liberal professions ” , rejoices Éric Le Baron, Managing Director of Swiss Life Assurance. This movement could still grow because this type of product is very popular at the end of the year, because of its advantages in terms of tax exemption.
The PER (retirement savings plans), of which the Perin is a part, are intended to be more flexible, more readable and more tax-efficient than the old PERP, Madelin and other Perco. The exit can now be made in capital and no longer only in life annuity. The contract can be settled in the event of purchase of the principal residence.
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PER can be subscribed individually (Perin) or through his employer (Perob or Pereco). But the confinement froze negotiations in companies and penalized the collective version of the new contracts. Only 3000 collective PER have been subscribed since October 1 according to the FFA.