Do you have to unlock your PER to buy your accommodation?

Free tribune

Do you want to acquire your main residence using savings made up of your PER? It is indeed tempting, but it is rarely a good calculation. The explanations of Gilles Bellir, Director General of Placement-direct.fr.

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The Retirement Savings Plan (PER) is experiencing resounding success since its launch in 2019 by the Pact law (Action Plan for growth and transformation of companies). According to Bercy figures, he has already attracted more than 10 million savers and exceeded the 100 billion euros in outstanding.

It must be said that the PER brings major advances compared to its predecessors (Perp, Madelin, etc.). The most important is relating to the total freedom which is given to the holder of the plan to choose, once retired, the way in which he wishes to have his savings: life annuity, capital withdrawals, rent and capital, there is no more constraint. Recall that the old devices allowed only an outing in a life annuity, with the exception of the PERP which allowed an exit up to 20 % in capital and 80 % in a life annuity.

Another raised brake: the possibility for the member of the retirement savings plan to use savings at any time on his contract to buy his main residence. A particularly well -welcomed development, especially by the youngest who have not yet been able to buy their accommodation.

Strongly imposed withdrawals

But be careful to do your calculations well, because the withdrawal by anticipation for the acquisition of the main residence will be highly taxed if you have fueled your PER with deductible payments. The tax rule that applies is identical to that of a retired capital withdrawal. Namely: the capital (the cumulation of the payments) are subjected entirely to the progressive scale of income tax (IR) and the gains (interest and capital gains) are subject to flat rate of 30%

But while it is possible to retire to smooth your withdrawals over time in order to limit its tax impact, the acquisition of the main residence implies the withdrawal of a potentially important sum at once. The risk is then to see your marginal tax rate climb to a level higher than it was at the time of your deductible payments. In short, a bad deal!

Flexibility yes, a strategy no

Take an example to better able to impact the impact. You are single and holder of a PER since 2020. Your taxable income, stable in time, is 70,000 euros per year. You have regularly fed your PER by making deductible payments for a total amount of 40,000 euros. These deductible payments have allowed you to save a tax of 12,000 euros, your marginal tax rate (TMI) being 30%.

You now wish to acquire your main residence and plan to withdraw savings formed on your PER. To simplify the calculation, we assume that the valuation of your contract has remained stable over time. Fiscally, the withdrawal of 40,000 euros will be added to your taxable income of 70,000 euros. The tax impact will then be negative, because you will pass in the 41%higher tax bracket.

In detail, based on the scale on 2024 income, the withdrawal will be taxed at 30% of 70,000 euros to 83,823 euros and 41% from 83,823 euros to 110,000 euros. The total cost will be 14,879 euros While your paying tax economy has only been 12,000 euros. This freedom offered by the PER must therefore be used with tweezers. It must be considered as flexibility during the life of the contract and not as a heritage strategy during membership.