With almost 7.3 million holders at the end of 2024 according to the Banque de France, the stock savings plan (PEA) remains one of the preferred investments for individuals to invest in the stock market. Its main advantage: as long as the money remains in the plan, no taxation applies. And after five years you don’t pay no income tax on the capital gains withdrawn.
No income tax, but social contributions, theyremain due. However, since January 1, 2026, the CSG rate on capital income is increased from 9.2% to 10.6%. Result: the overall rate of social security contributions increases by 17.2% to 18.6%. Concretely, each capital gains withdrawal from your PEA after 5 years is now taxed a little more, with 1.4 points more.
This increase also impacts PEAs closed before five years: their gains are subject to the flat tax, which automatically increases from 30% to 31.4% (12.8% income tax and 18.6% social security contributions). Note that depending on the year the plan was opened, “historical rates” may still apply, which sometimes reduces the rating.
An increase that calls for a review of fees
This increase in the CSG, which will reduce the net performance of your PEA, is also a good excuse to look at your costs and compare establishments.
And on this point, the differences remain significant. Even though brokerage fees have been capped since July 2020, traditional banks still often charge significant custody fees and account maintenance fees. Conversely, most online banks and specialized brokers today offer PEA without fixed fees or custody fees, with orders charged from 1 euro.
Over a long period, these differences weigh heavily. For example: on a portfolio of 50,000 euroscustody rights 0.4% represents 200 euros per yeareither 2,000 euros over ten years. Much more than the impact of the increase in the CSG on a one-off withdrawal! In short, optimize your costs can largely offset the increase in social security contributions.
Transfer your PEA, instructions for use
Good news: it is possible to transfer a PEA from one establishment to another without losing its tax precedence. The opening date and the amount of payments are kept and, often, the new establishment takes care of the procedures.
The only point of vigilance: during the transfer, which can last several weeks, no purchase or sale transaction is possible. It is therefore better to choose a calm market period.
On the cost side, the transfer fees have also been supervised since July 2020. They cannot exceed 15 euros per line of listed securities And 50 euros per line of unlisted securitieswith a overall ceiling set at 150 euros per transfer, regardless of the number of lines. This regulation has considerably reduced the formerly dissuasive transfer costs. What’s more, many online establishments offer repay all or part of these costs.
If you have never checked your PEA fees, now is the time to look into the subject. And, if necessary, negotiate fees or transfer your PEA to a cheaper provider. An operation which can not only largely compensate for the 1.4 point increase in social security contributions, but above all sustainably improve theprofitability of your savings.
