Living at home as long as possible is a wish shared by more than 90% of French people. You are a retired owner from their main residence or do you know a loved one in this situation? Solidarity life annuity has advantages for coping with the inexorable decline in standard of living upon retirement. The market is shared between investment funds and a non-profit cooperativecalled The 3 Columns. It is this last solution, supported in particular by the Caisse des Dépôts et Consignations, which is detailed here.
To fully understand how it works, let’s start by discussing the rules specific to life annuity. Since the senior continues to live in the premises throughout his or her life, we are talking about a occupied life annuity. As part of this real estate transaction, the buyer (the debtor) will only be able to dispose of the property upon the death of the seller (the cdirector). In return, the retiree will receive a sum of money upon signing the deed of sale. And a life annuity will generally be paid once a month. The amount of capital (the bunch) and the annuity vary depending on the value of the real estate and the age of the seller(s).
Non-profit cooperative
The older the annuitant is, the higher the amounts to be collected. Thanks to this additional income, retirees will be able to improve their daily lives and anticipate a potential loss of autonomy. But unlike a classic life annuity, the buyer is a cooperative society of collective interest (SCIC). Its mission is to keep seniors in their homes.
During an initial meeting, a social and real estate coordinator assesses the needs of the future beneficiary: human assistance or adaptation of housing is offered if necessary. Furthermore, the energy comfort of the property will be studied, the heating system could for example be changed.
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Priority for the lowest incomes
Due to its social mandate, this cooperative, created in 2013, prioritizes candidates for solidarity life annuity based on their resource leveltheir situation of isolation or their state of dependence. More than 600 applications are currently received each month. As for the average age of new annuitants, it is between 78 and 85 years old.
What about the motivations of these retirees? There are many of them: a loan to repay, a pension insufficient to live adequately, a renovation to finance… In this regard, the beneficiaries are also freed from major works and 30% of current co-ownership charges. As for the property taxit will now be settled by Scic Les 3 Colonnes (with the exception of the TEOM, the Household Waste Removal Tax).
