With 7.4 million French people holding a retirement savings plan (PER), the government can be proud of having exceeded the objectives set when this system was created four years ago. Equipped with a tax advantage upon entry and offering the possibility of withdrawing your savings at maturity in the form of a capital, instead of a life annuity, this new envelope displays a winning combination. However, it is not a product for everyone. “The PER is a tunnel investment, that is to say that the funds are blocked there until retirement, recalls Gilles Belloir, general manager of the broker Placement-direct.fr. In return, you obtain a tax advantage which is proportional to your marginal tax bracket.” Below 30%, move on!
A plethoric offer
This immobilization constraint has not prevented the development of a plethora of offerings, with a good hundred individual PERs available today. Each year sees its share of new products, even if it becomes more and more difficult to stand out. A few players entered the niche this fall, such as Corum, better known for its real estate funds. Very innovative, the Corum PERLife is distinguished by an absence of management fees on the units of account, the list being however restricted to in-house products: real estate investment companies (SCPI) and bond funds.
Another newcomer: fintech Goodvest. Focused on responsible savings, it offers a “green” PER, integrating management under mandate aligned with the objectives of the Paris agreement, which aims to limit global warming. In this niche, it competes with another contract recently put on the market by the broker Placement-direct.fr, the PER Placement-direct Retraite ISR. In addition to a very committed financial offer, this plan presents an attractive price list.
Finally, other companies are expanding their range. Yomoni thus offers a PER integrating not only ETFs – or exchange-traded funds, or even listed index funds –, its trademark, but also a euro fund, real estate and private equity. Same diversified approach at Gay-Lussac Gestion or DNCA Finance.
Beware of contract management costs
Faced with so many products, one might feel helpless. However, two criteria are essential for sorting, starting with the costs. “We must avoid highly charged PERs, advises Gilles Belloir. In particular, it is important to study the management costs of the contract because beyond fifteen years, this is what weighs the most. ” This position increases from 0.50% to more than 1% per year, depending on the contracts and distribution networks. Please note, if you want to delegate the management of your savings to a professional, you will have to count on a supplement. Knowing that the costs specific to the funds are added to this bill, the bill can be hefty.
Another key criterion: the financial offer. “Many PERs have too limited a choice of supports,” believes Yves Conan, general manager of the online broker Linxea. “However, we must be able to respond to different market contexts. For example, small values are currently being massacred on the stock market and the period can offer an interesting entry point. You still need to have this category of funds in your plan…”
Variety also allows performance to be compared. “Currently, SCPIs are going through a crisis but some of them will do well,” observes Yves Conan. “However, certain contracts only offer one real estate fund, which does not allow you to adapt your portfolio.” Diversity, finally, must be found among financial solution providers. “There are a few managers specializing in banking stocks, others in gold mines… No management company is efficient in all asset categories,” underlines Yves Gambart de Lignières, wealth management advisor at Valves. These two points studied, if your PER is not up to par, don’t worry! It is possible to transfer your capital to another contract. It’s even free after five years of detention.
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