Open a retirement savings plan (PER) at age 70, or even once retired? The question comes up often, particularly among retirees tempted by the tax advantage of the system. In theory, the answer is yes. In practice, the reality is more nuanced.
The 2019 Pacte law, which created the PER, did not set no age or professional status restrictions. Regulatory, nothing prevents an insurer from offering a retiree or a septuagenarian the opportunity to open a PER. A very flexible framework which gives companies complete freedom to set their own rulescontract by contract: maximum age at subscription, obligation to still be active, sometimes even tax residence in France.
The result is a very heterogeneous landscape which requires checking each contract in detail. Thus, PERs closed to subscriptions after age 64, or from legal retirement age, are the majority. That said, there are still a certain number of them which still accept new members aged 64 to 70, but most often on the condition of professional activity. An important nuance: at 66, you can be retired… or still employed.
Up to 75 or 80 years… for very rare contracts
As for contracts accessible beyond the age of 70, they are rare, but they exist. We have even spotted some that accept new memberships up to 80 years old! The counterpart, however, is almost systematic: still be active And receive professional income. These PERs are generally distributed by networks targeting the liberal professions or by internet brokers.
To further complicate the picture, some insurers maintain vagueness in their information notice: no clearly displayed age limit, or even the possibility of exemptions granted on a case-by-case basis! To this is sometimes added a requirement for tax residence in France, effectively excluding retirees living abroad. In any case, remember that in this case, the tax interest is zero.
Sixties or seventies, still active or retired, by looking a little, you can always find a PER suited to your profile. But the operation must still make sense. Once retired, the tax advantage largely loses its substance, due to the lack of a real tax bracket differential. And for payments, the maximum deduction remains capped at 10% of the PASS (4,806 euros in 2026).
Engage in competition, even in retirement
The issue is elsewhere. Opening a new PER upon retirement can above all serve to transfer an old, uncompetitive contract to a new, more advantageous onea free operation after five years of detention. A point to examine closely, especially if you want to get an annuity, where the differences in fees can be heavy. Please note: certain PERs, although explicitly closed to new subscriptions by a retiree, still accept transfers of existing contracts, even once retired.
At the end of 2024, parliamentarians tried to impose a maximum age for subscription, without success for the moment. But a precedent exists: the legislator has already tightened the rules in 2023 by prohibiting the opening of a PER to minors. Contracts accessible at an advanced age may be on hold.
