What is this new placement offered by Banque Populaire and the Caisse d’Epargne?

Designed to finance long -term projects from an early age, the Savings Future Climate (PEAC) plan is finally available in the BPCE network. Reserved for under 21, this placement, halfway between a booklet A, life insurance and a PER, will try to seduce young savers anxious to invest in a sustainable manner.

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Developing a sustainable savings product can take time. This is the case for the Savings Future Climate (PEAC) plan, imagined within the framework of the Green Industry Law, in the fall of 2023, and in principle available since July 1, 2024. Problem: no insurer or any bank still proposed it so far. A delay in the ignition experienced by the BPCE group, which announced, Thursday, April 17, that savers could now take out a PEAC in popular banks and Savings boxes.

This new product is however reserved for a particular category of savers: it can be opened by a young adult until his 21 years, or by his parents from birth. It is then a Middle Long Middle investment: “The funds remain blocked up to 18 years of the subscriber, and the minimum duration of the contract is five years. Then it is possible to make partial or total redemptions. At the age of 30, the PEAC is closed, and the funds can be transferred to a life insurance contract or are automatically paid to the current account ”details Marion Dewagenaere, Managing Director of the BPCE Persons Insurance Profession.

Watch out for investment time and risk tolerance

It is therefore impossible, unlike other savings solutions offered by banks (booklet A, LEP, LDDS, etc.) to recover your funds at any time. On the other hand, the ceiling of this new product will be the same as that of booklet A: 22,950 euros For payments, with interest which can exceed this amount. For the rest, the PEAC is more like life insurance or a PER, with savings invested in account units (UC), but all labeled “sustainable investment” (ISR, Greenfin or SFDR 9).

As for the PER, it is possible to opt for so -called “controlled by horizon” management: capital is first exposed to dynamic assets, before being secure as the deadline approaches. “We have relied on our experience in PER, with a similar mechanism for gradual security of capital. The idea is to optimize the long -term yield potential and gradually reduce the risk ”adds Marion Dewagenaere.

Be careful, however, because unlike a booklet A or life insurance invested only in euros funds, this product presents a risk of capital loss, despite the possibility of securing its earnings as the term approaches. In the key information document (DIC) provided, the PEAC Capitalization BPCE Vie is thus noted 4 out of 7 on the risk scale. For Cédric Glorieux, Product and Solutions Director at BPCE, this more risky product – but with a higher gain – can thus complete secure savings owned for example on a booklet A: “The PEAC is a very suitable medium to prepare the projects of young adults: studies, driving license, purchase, installation, stay abroad …” Arguments that could seduce young savers who have a few side balls and convictions in mind.