At the end of last year at least 4.5 million French people had subscribed to a retirement savings plan (PER), a product launched in 2019 which makes it possible to withdraw all of the capital raised for his retirement, has Bercy announced on Monday.
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The total amount of outstanding amounts for these new PERs stood at 31.6 billion euros at the end of 2020, according to figures published by the Ministry of the Economy and Finance.
This amount is still much lower than other investments popular with the French such as life insurance (1,800 billion euros in assets) or the Livret A (463 billion).
However, the young PER is taking the first noticeable steps: with 4.5 million insured at the end of 2020, Bercy has already exceeded the target of 3 million beneficiaries set for 2022.
269 billion euros at the end of 2020
Created via the Pacte law and distributed since October 1, 2019, the PER is intended to boost retirement savings, a long-term investment that can be used to finance companies but neglected in recent decades in favor of life insurance in particular. The total outstanding retirement savings amounted to 269 billion euros at the end of 2020, the government hoping to increase to 300 billion euros in 2022. This investment makes it possible to accumulate a nest egg that will be distributed to the end of working life and complement the pay-as-you-go pension system.