With the new Social Security financing law for 2026, the taxation of employee savings is changing discreetly but with very real effects on your portfolio. The generalized social contribution (CSG) on the income of the capital goes from 9.2% to 10.6%bringing the overall rate of social security contributions to 18.6%. An increase which comes after several years of stability and which mechanically reduces the net profitability of investments, particularly for long-term savings products.
Thus, if the tax rules linked to employee savings remain advantageous, they need to be well understood to avoid errors at the time of declaration. “If the saver decides to place his profit-sharing, participation or value-sharing bonus in his employee savings plan, these sums are exempt from income tax”explains Dominique Dorchies, Deputy Managing Director of Natixis Interentreprises. You still need to know in which cases to declare and how to avoid paying too much.
Should you declare your employee savings?
It all depends on the choice made when paying the premiums. “If the saver decides to place his profit-sharing and/or participation (…) these amounts are exempt from income tax. This is also the case for any additional contributions paid by his employer”specifies Dominique Dorchies. This exemption constitutes one of the main advantages of employee savings. But certain situations still require a declaration. “The participation and profit-sharing amounts received immediately must be declared for tax purposes”recalls Sophie Lebeau, General Secretary of Employee Savings and Retirement at Amundi. Conversely, “the amounts saved are tax exempt”she emphasizes.
On the other hand, the situation changes completely if you choose to receive these amounts immediately. “They are then subject to income tax, which can impact the family quotient and have an impact on the social benefits received,” she underlines. Other amounts must also be reported, even when they are not taxable. “Certain non-taxable amounts must be declared because they are taken into account in the calculation of the PER deductibility ceiling »specifies Sophie Lebeau, citing in particular the contribution or the days of leave transferred. At the exit, the rules are specific: “capital gains are exempt from income tax” but “these gains are subject only to social security contributions, at the rate of 18.6%”.
An increase in the CSG which reduces gains
The 2026 reform does not call into question entry exemptions, but it modifies exit taxation. “The 1.4 point increase in the CSG impacts social security contributions on investment products », explains Dominique Dorchies. A development which directly concerns gains from employee savings. Sophie Lebeau confirms this mechanical effect: “ the increase in the CSG to 10.6% applies to exitwhen releasing employee and retirement savings ». After several years of stability, “the overall rate increased to 18.6% on January 1, 2026.” This increase also has an indirect effect on other products: “it also mechanically impacts the single flat-rate deduction rate (PFU)”, now set at 31.4% for certain investments.
Which products are most affected?
All employee savings and retirement products are affected. “The increase applies to PEE and to all retirement savings plans (PER) without distinction »specifies Dominique Dorchies. This means that earnings from these investments are now subject to this new rate when withdrawn.
She adds that “products exempt from income tax (…) are subject to social security contributions at the rate of 18.6% upon repayment of assets ». For voluntary payments into a PER, taxation can be even heavier: “the products (…) are subject to the PFU rate of 31.4%”.
Employee savings declaration: the 3 mistakes to absolutely avoid
Thinking that everything is exempt
This is the most common error. “Certain amounts remain taxable”recalls Dominique Dorchies, particularly when the saver chooses to immediately receive his profit-sharing or participation. Conversely, the amounts invested may be exempt under conditions. A common confusion that can lead to wrong statement and therefore to unnecessary taxation.
Do not check the pre-filled declaration
Although reporting is often automated, it is not infallible. “The declaration is often pre-filled but the saver must check and correct if necessary”, insists Dominique Dorchies. A common trap according to Sophie Lebeau: “ some taxpayers validate without comparing the amounts with the statements provided ». However, errors can exist, with the risk of paying too much.
Confusing capital and gains
When withdrawing, it is essential to make the distinction. “Capital may be exempt from income tax, but earnings are generally subject to social security contributions”recalls Dominique Dorchies. A common confusion which can have significant tax consequences. Another common mistake: forgetting certain past operations. “It happens that the saver forgets an old plan or an exceptional exit, particularly after a change of employer”underlines Sophie Lebeau.
How to limit the tax impact
Faced with these developments, certain reflexes make it possible to limit the bill. The first consists of favoring the investment of premiums. “If the saver does not need it, the best advice is to invest the premium and not collect it », recommends Dominique Dorchies. Sophie Lebeau goes in the same direction: “saving the sums paid by the company allows you to avoid being taxed immediately on it”. She also insists on another avenue: “voluntary deductible payments on a PER allow you to benefit from a tax reduction, within the limit of the tax household ceiling”. Finally, Dominique Dorchies recalls a key point: “do not confuse income tax exemption and social security contributions “. Even if they are exempt from tax, the winnings remain subject to taxation.
