Perco: the savings plan for collective retirement

The Perco, savings plan for collective retirement, is a retirement savings vehicle subscribed within a company. It allows employees to build up a retirement supplement or capital with the help of the company. Replaced by the PER in 2020, his funds are blocked until the employee’s departure. Explanations!

What is the principle of Perco?

Perco: a business savings plan for retirement

The Savings Plan for Collective Retirement (PERCO) is a employee savings system. It aims to allow employees to constitute a Additional income for their retirement. The Perco is set up by the employer within the company and is accessible to all employees, regardless of their employment contract or their seniority.

A device replaced by PER since 2020

Since October 1, 2020, the Perco has been replaced by the PER and can no longer be implemented in companies. For employees who already have a percoh on this date, it is possible for them to still carry out voluntary payments or to transfer it to a PER. During the transfer, social security contributions are calculated on the basis of the rates in force during payments.

What is the interest of the Perco?

Perco’s advantage: taxation

The main advantage of the Perco lies in its advantageous taxation: the sums invested are taxable income deductibleswithin the limit of certain ceilings. In addition, the earnings made are exempt from income tax until the time of exit, which generally occurs at the time of retirement. This system thus makes it possible to build up retirement savings while optimizing your taxation during working life.

Disadvantage of Perco: the anticipated exit

The main drawback lies in the fact that The sums invested are blocked until retirement. Although there are exceptions, this means that savings are less accessible to deal with unforeseen financial needs. This can represent a constraint for employees who favor more flexible or more available savings in the short or medium term.

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PEE or Perco?

Although the PEE (Enterprise Savings Plan) and the Perco are two employee savings systems, the PEE is oriented towards medium -term savings needs with more flexibility in using funds. The Perco is designed to constitute savings for retirement. The choice between the two therefore depends on the goals of the saver.

How does the savings plan for collective retirement work?

Flexible operation

The functioning of the perco is quite flexible. The sums spared by employees are Invested in funds Proposed by the company or by collective management organizations, unless otherwise choices. In the structures of one to 250 employees, the Perco is accessible to managers as well as their spouses, if they have the status of employee or associate spouses.

Placements and Perco

Perco funds can be invested in stocks, bonds, real estate investments, etc. Employees can Choose the risk level of their investments according to their profile. The sums paid can only be invested in investments reserved for employee shareholding.

At the initiative of the participants, the Perco can receive the sums resulting from profit -sharing, participation, etc. They will be increased by the contribution of the company (subscription).

PERCO exit: rent or capital

At the time of retirement, the sums made up can be recovered in the form of a pension or capital If the collective agreement provides for it. This last solution is the most advantageous from a tax point of view. PERCO regulations may provide for a minimum annual payment of 160 euros. And a maximum seniority condition can be required.

Can I recover the money from my Perco by leaving the company?

Keep your PERCO with your former employer

If the employee leaves his company (voluntary departure or dismissal), his savings are not lost. If no Perco is available from the new employer, he can keep the one in place At his former employer, without benefiting from the subscribing and with predicted predicted management fees.

Transfer one’s savings

It is also possible to Transfer your savings to another retirement savings planas an individual retirement savings plan. This transfer can offer greater flexibility or different investment options. It also makes it possible to bring together several retirement savings systems in a single medium, thus simplifying management.

How to make payments on a perco?

Feed your collective retirement savings plan

To support the employee in the choice of the most advantageous investment modes, the Perco must include decision -making assistance. Payments on a perco are optional. If he wishes, the employee can feed his plan thanks:

• to the sums resulting from profit -sharing, participation or those resulting from the transfer of other employee savings plans;
• to the rights registered on a time savings account (CET), or, in the absence of the absence of this, sums corresponding to days of rest not taken (within the limit of ten per year);
• Voluntary payments which are capped in the quarter (25 %) of the annual remuneration (gross) of the employee in the previous year.

These voluntary payments do not generate a reduction in taxable income.

Subscription and perco

The employee’s payments can be supplemented by those of the company, the subscribing. This subscriber is capped three times the amount paid by the employee (or 16 % of the annual social security/pass ceiling) and cannot exceed 7 536 euros (in 2025).

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What are the placements dedicated to Perco?

A management system by horizon

Funds blocked on the Perco must be placed according to a Horizon management system. Each of these horizons must be chosen in office:

• Employee objectives: acquisition of housing, business creation, etc. ;
• of the moment at which he will need to recover his bet: short or long term project;
• of the level of risk which he agrees to endorse. The more the age of the holder approaches retirement and the less the financial risk must be high.

Common business investment funds

The Perco must offer at least three common business investment funds (FCPE), with different risk profiles. The employee can thus choose to invest carefully or not. There Piloted management is the default investment mode:

• The manager of the Perco diversifies the start on several funds.
• The share placed on the fund composed mainly of shares is then gradually reduced as the deadline for retirement is approaching, in favor of funds combining monetary securities and risk -free state obligations.

Eligible collective investment organizations

Perco can also invest in OPCs (collective investment organization) or FIA (alternative investment funds), provided they comply with certain regulatory limits set by the Labor Code and the AMF. In 2025, the main rules are:

• No more than 10 % unlisted titles (not negotiable on a regulated market).
• No more than 10 % of the company titles Having set up the PERCO, in order to limit the risks of excessive dependence on the company’s financial health.

Solidarity funds

In accordance with legal obligations, each perco must propose at least one solidarity fundsaid funds “90/10”. These funds place at least 90 % of their assets in conventional values ​​(stocks, bonds, monetary) and up to 10 % in companies or structures of the social and solidarity economy (ESS): associations, cooperatives, integration companies, etc.

How to unlock a Perco before retirement?

A savings plan blocked until retirement

Except in cases of early exit, the sums paid on the perco unavailable until retirement. In the event of the beneficiary’s death, the beneficiaries must submit a request to recover funds within six months of the disappearance.

Early unlocking case

The sums paid on the Perco are unavailable until retirement, except in cases of exceptional unlocking. Here are the situations that make it possible to realize A request for early unlocking As part of the Perco:

• Death or disability (the employee, her husband or wife, his children or his partner of PACS).
• Useddress.
• Purchase or restoration of a main residence following a natural disaster.
• Expiration of the rights of an employee with unemployment insurance.

Note that no delay is imposed for an early exit, with the exception of the purchase of a main residence, where a period of six months is compulsory.

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How to declare the Perco to taxes?

Unlocking perco and taxation

When the employee leaves working life, he can recover his savings in the form of a life annuity or capital (if the PERCO regulations provide for it). If the output of the perco is carried out at once, in the form of capital, it is income tax exemptbut subject to social contributions.

In the event of a pension, it will be partly taxable In the category of life annuities acquired for consideration (30 to 70 % depending on the employee’s exit age). The annuity is also subject to social contributions.

Pact and Perco law

In accordance with the provisions of the PACTE law, the new payments made on a percoh will be deductible from taxable income, but, in return, the gains from these payments will be taxwithout any advantage, whatever the type of output (rent or capital).