With nearly 12.7 million of holders and more than 141 billion euros in outstandings at the end of the third trimester 2025THE Retirement savings plan (PER) has established itself as an essential retirement savings product, according to the latest figures from Bercy. However, a question regularly arises among savers: what happens to this investment once the milestone is reached? 70 years old crossed? Are the tax rules still the same?
There finance law for 2026 reshuffled the cards by modifying the taxation applicable after this age. THE PER remains accessible, but its tax operation is evolving. “Many savers think that at age 70, the PER is no longer useful. In reality, it is not the product that loses its interest, it is its tax logic that changes: we move from a tax exemption tool to an asset management tool”explains Bernard Valet, retirement savings expert.
Can you still pay into your PER after age 70?
Contrary to what many imagine, it is still possible to make payments on a PER After 70 years old. On the other hand, these new payments no longer give rise to the right to deduction from taxable income.
By ending this tax advantage, the legislator wanted to refocus the PER on its initial objective: to encourage gradual preparation for retirement rather than last-minute tax optimization. This philosophy is reminiscent of that of life insurance, whose payments made after 70 years old also obey a specific tax regime. In practice, savers can therefore continue to fund their PER, but without benefiting from the tax savings which until now was one of its main advantages.
“Many savers do not realize that the change occurs precisely from their 70th birthday. For example, a person who turns 70 in July will still be able to deduct payments made up to the day before their birthday, within the limit of their retirement savings limit. On the other hand, those made from this date will no longer benefit from this tax advantage”illustrates Bernard Valet.
Why does the tax benefit disappear after age 70?
The disappearance of the tax deduction does not mean that the PER loses all its interest. Payments remain possible and continue to benefit from a specific tax framework.
In the event of a capital outflow, the sums paid after 70 years oldwhich did not give rise to the right to deduction, are not subject to income tax. The gains generated by these payments remain subject to the single flat-rate levy (PFU)the rate of which is set at 31.4%either 12.8% income tax and 18.6% social security contributions. This consideration makes it possible to avoid double taxation of the same sums.
“The largest payments generally benefit from being anticipated before age 70. It is before this age that the PER fully delivers its tax advantage”recalls Bernard Valet.
Is the PER still interesting or should life insurance be preferred?
The answer depends above all on the objectives of the saver. If the PER no longer allows you to reduce your tax thanks to new payments after 70 years oldhe maintains an interest in preparing additional income or organizing his assets. “After age 70, the choice no longer comes down to whether or not to continue your PER. It is especially necessary to check whether another support, such aslife insurancewould not further meet its heritage or transmission objectives”underlines Bernard Valet.
L’life insurance can in fact constitute an alternative or complement for savers who wish to continue investing after 70 years oldespecially if their objective is no longer to immediately reduce their tax. The choice between these two envelopes, however, depends on the tax situation, income needs, investment horizon and transfer objectives.
In practice, the PER therefore does not become obsolete after 70 years old : it is its tax logic that is evolving. Before any new payment, it is recommended to compare the different savings solutions in order to choose the one that best suits your financial situation.
