Retirement Savings Plan (RSP) - Individual RIP 

Verified 04 mai 2026 - Public Service / Directorate of Legal and Administrative Information (Prime Minister), Ministry of Finance

Your situation

  • This is an individual PER 
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The individual PER is open to all. You can take it out with a financial institution or an insurance organization. This new plan succeeds the PERP and the Madelin contract, which are no longer offered since the 1ster October 2020. Your accumulated savings on the Perp and Madelin can be transferred to the individual PER at your request. This contract entitles you to tax benefits and your rights are transferable to other PERs. There are cases of early release.

The individual PER (also called PERIN or PERI) is a long-term savings product. It is entirely funded by your payments, without any help from your employer.

It allows you to save during your working life to get, from retirement age, a capital or a annuity.

The plan leads to the opening of a securities account (bank PER) or the adherence to a group insurance contract (insurance PER).

Since 1er In January 2024, you must be 18 years old to be able to open an individual PER.

He is not more possible to open an individual PER for a minor child since the marketing of climate futures savings plan. PERs already open before 1er January 2024 on behalf of a minor child remains open, but it is no longer possible to make payments until the child reaches the age of 18.

To open an individual PER, there is no condition related to the professional situation. Any individual (over the age of 18) can save on an individual PER: employee, head of company, self-employed, self-employed, self-employed, jobseeker, unemployed or retired.

There is no age limit. But you have to have your legal capacity.

FYI  

One protected major cannot subscribe to an individual PER alone. Depending on the situation, he will need to be assisted (if placed under curatorship) or represented (if placed under guardianship, under family empowerment or under future protection mandate). The PER is a long-term financial investment that affects the protected person's wealth. The opening of a PER on behalf of a protected adult is a act of disposition which must be authorized by the judge.

The individual PER can be opened in one of the following 2 forms: either the bank PER (also called Investment RIP) or the insurance PER.

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Bank PER or Investment PER

The banking PER gives rise to the opening of a securities account . It must be subscribed through a specialist business. This is a business that is an authorized provider to carry out investment advice (banking institution, financial investment company).

Insurance RIP

The insurance PER gives rise to membership in a group insurance contract. It allows investment media in euro fund and in units of account, with a functioning close to life insurance.

It must be subscribed through a specialist business. It is an association that subscribes to group life insurance policies (with an insurance company, a mutual or a provident insurance institution).

It can also be subscribed with a additional occupational pension fund.

FYI  

The insurance PER makes it possible to designate beneficiaries in the event of death. It benefits from a taxation similar to life insurance.

Origin of funds

Each PER, whether individual or collective, shall be organized in 3 separate compartments according to the origin of the funds that feed it :

  • Compartment No. 1 (individual compartment) receives voluntary payments from the plan holder. Within this compartment, in order to determine the taxation applicable at the exit from the plan, the managing bodies distinguish two categories of payments:
    • voluntary payments deductible from the plan holder's taxable income,
    • and voluntary payments for which the holder waives a tax deduction at the time of payment.
  • Compartment No. 2 (collective compartment) shall be funded by payments from the employer of the holder of the plan. It welcomes money from employee savings.
  • Compartment 3 (category compartment) collects the employer's compulsory contributions, possibly supplemented by the employee's compulsory contributions if the company agreement so provides.

FYI  

In the individual PER, compartment No 1 is supplied by the voluntary payments by the plan holder.

Compartments No. 2 and No. 3 are supplied exceptionally in the case of a transfer of savings already constituted on another device (for example in the case of transfer of a company PER on an individual PER, or transfer of a former Perco).

Managed Management

Unless otherwise specified by you, the management of the amounts paid out on the PER shall be based on the principle of managed management. This means that when retirement is far away, savings can be invested in riskier, more rewarding assets. As retirement age approaches, savings are gradually being channeled into less risky vehicles.

There are 4 “retirement horizon” investment profiles: prudent, balanced, dynamic or offensive.

Unless you indicate otherwise, the “balanced retirement horizon” profile will be applied by the manager of your PER.

Information of the holder

The managing body must provide you with information on the characteristics of the plan, its management method and its taxation at the time of the opening of the PER.

Thereafter, each year, he must give you the following information:

  • Evolution of the account
  • Financial performance of investments
  • Amount of fees charged
  • Conditions for transferring plan.

From the 5è In the year preceding the year of your retirement, you can ask the PER manager about exit options that are appropriate for your situation.

The individual PER is first fed by the voluntary payments that you perform.

In addition, if you transfer from a company PER to an individual PER, you can also pay:

  • Sums from profit-sharing, participation and the abundance from your employer to a company PER or PERCO
  • Amounts from the value-sharing premium (PPV) or the premium from the company valuation sharing plan (PPVE)
  • Sums from a time savings account (CET) and assigned to your company PER
  • Mandatory payments made on a mandatory company RIP.

Voluntary payments are free and can be scheduled or one-off.

As long as you are done before your 70th birthdayHowever, the payments are deductible from taxable income as a matter of principle and not deductible on option. The option must be reported to the plan manager at the time of each payment.

There is no cap on voluntary cash payments on the individual PER, but the amount for which you can benefit from a tax benefit is capped.

FYI  

Since 1er In January 2024, retirement savings plans with a holder under the age of 18 can no longer receive voluntary payments. Pre-opened PERs will remain blocked until the child reaches majority.

In principle, your individual PER is blocked until you retire.

But there are cases of early release for “accident of life” and for purchase of the main residence.

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General case

You can unlock your individual PER as soon as possible on the date you receive your retirement pension or when you have reached the legal retirement age (depending on your year of birth).

You then have the choice to request that the savings accumulated in your individual PER be paid:

  • either in capital,
  • or in life annuity,
  • or partially in capital and annuity.

The same applies to employee savings (profit-sharing, participation, contributions, value-sharing premium, company valuation-sharing premium, CET days) that may be transferred to your individual PER.

The capital can be paid in one or more installments.

However, the capital payment will not be possible if you have already opted definitively to open the plan for a life annuity payment.

Early release case

You can recover your savings, in the form of a one-time payment, in advance only in the following cases:

  • Disability (2nd or 3rd category) if you are disabled, or your children, spouse, or Civil partnership partner
  • Death of your spouse or Civil partnership partner
  • Expiry of your unemployment insurance rights or termination of the office of corporate officer for at least 2 years without employment contract and without pension liquidation in a compulsory old-age insurance scheme
  • Over-indebtedness (in this case, the over-indebtedness commission must write to the managing body of the PER)
  • Cessation of self-employed activity following a judgment of judicial liquidation
  • Purchase of your principal residence (but in this case, the rights resulting from compulsory payments remain blocked).

To request the early release of the PER, you must send a letter, preferably recommended, to the managing body, with the following elements:

  • Proof of identity
  • Bank identity statement of the account to which you wish to obtain payment
  • Proof of the exceptional situation of early release that you invoke.

The method of taxation of the capital resulting from early release depends on the reason for release and the origin of the sums.

If the release is based on one of the “accident of life” cases, the part of the released capital corresponding to the payments which fed the PER is exempt from income tax and social security contributions.

The share of the released capital corresponding to the gains generated by these payments is subject to the social levies applicable to investment products.

If the release is motivated by the purchase of the principal residenceHowever, the situation varies depending on whether you have deducted the payments made on the RIP for tax purposes.

If you have deducted the payments for tax purposes, the part of the released capital corresponding to the payments shall be taxed on income tax without deduction of 10%, but exempt from social security contributions.

The share of the unblocked capital corresponding to earnings shall be imposed on the single flat-rate levy (SSF) made by the bank. This levy corresponds to income tax at a flat rate of 12.8% to which social levies are added.

If you have not deducted the payments, the share of the released capital corresponding to the payments shall be exempt income tax and social security contributions.

The share of the unblocked capital corresponding to earnings shall be imposed on the single flat-rate levy (SSF) made by the bank. This levy corresponds to income tax at a flat rate of 12.8% to which social levies are added.

Yes, you can keep your PER after you retire or after reaching the statutory retirement age.

The accumulated savings become available in whole or in part, but you do not have to unlock your PER. And if your plan does not include an age limit, you can continue to fund your individual PER provided that you have not already fully liquidated it.

Voluntary payments made to your individual PER after you retire or after reaching the statutory retirement age are immediately available and recoverable at any time.

Provided they are made before your 70th birthday, you can choose to make deductible or non-deductible payments of the plate income tax. Until you turn 70, you have a limited tax deduction every year.

Tax advantage on voluntary payments

Warning  

Since 1er January 2026, payments made to your RIP after your 70th birthday are still possible, but are no longer deductible.

Up to the age of 70, feeding your individual PER allows you to benefit from a tax advantage that consists of reducing the amount of your taxable income.

Indeed, you can deduct from your taxable income of one year, the amounts you paid into your RIP in the same year. But this deduction is limited.

Example :

You declare €30,000 of taxable income and €1,200 payments on your PER.

With the deduction of payments on the PER, your taxable income goes from €30,000 à €28,800.

This results in a tax reduction on income, the amount of which varies depending on the composition of your tax household.

At the time of each voluntary payment, you must inform your PER manager if you choose to deduct your taxable income. If you waive the deduction for the year of payment, you will benefit from a reduced tax rate at the time of the exit of the individual PER.

The annual deduction voluntary payments made before age 70 is limited to one individual ceiling determined each year for each member of your tax home.

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You are an employee

Your personalized ceiling is calculated by the tax services in several stages.

The deduction limit for pension contributions is equal to 10% of your 2025 operating income (net of professional expenses) (with a maximum of €37,680), or to €4,710 if this amount is higher.

This amount is reduced of the following:

  • Contributions to supplementary pension schemes made compulsory in the company for employees (employer's share for its non-taxable amount and employee's share for its amount deductible from salary)
  • Employer's contribution to the Group Retirement Savings Plan (Perco), Group company Retirement Savings Plan (Pereco) or Mandatory Retirement Savings Plan (Pero) up to the amount exempt from income tax
  • Entitlements on the TEC (time savings account) or, in the absence of a TEC, on monetized, exempt leave days (up to 10 days) allocated by the employee to a Perco, a supplementary company pension plan or a Pereco.

The ceiling is increased of the unused deduction limit (or of the portion of the limit) in the previous 5 years, from the oldest to the newest.

However, the unused part of the ceilings for the years 2024 and 2025 can only be used within 3 years. So until 2027 for the 2024 share and until 2028 for the 2025 share.

The unused portion of the 2026 cap (and subsequent years) can be used within 5 years.

Example :

You didn't use your full deduction limit in 2024 and 2025.

Your 2026 contributions are deducted as a priority from your 2026 limit.

The amount that exceeds your 2026 cap is deducted from the remaining portion of your 2024 cap and then from the remaining portion of your 2025 cap.

The personalized ceiling applicable to your contributions paid in 2026 will be indicated on your tax notice 2026 (on 2025 revenues).

It is the sum of the cap calculated on your 2025 income and the unused caps calculated on previous years' income.

You are unemployed or retired without professional income

The ceiling is €4,710.

The ceiling is increased of the unused deduction limit (or of the portion of the limit) in the previous 5 years, from the oldest to the newest.

However, the unused part of the ceilings for the years 2024 and 2025 can only be used within 3 years. So until 2027 for the 2024 share and until 2028 for the 2025 share.

The unused portion of the 2026 cap (and subsequent years) can be used within 5 years.

Example :

You didn't use your full deduction limit in 2024 and 2025.

Your 2026 contributions are deducted as a priority from your 2026 limit.

The amount that exceeds your 2026 cap is deducted from the remaining portion of your 2024 cap and then from the remaining portion of your 2025 cap.

The personalized ceiling applicable to your contributions paid in 2026 will be indicated on your tax notice 2026 (on 2025 revenues).

It is the sum of the cap calculated on your 2025 income and the unused caps calculated on previous years' income.

FYI  

Some special rules shall apply to self-employed persons.

Taxation of annuity or capital

The tax regime for the annuity or capital is different depending on whether or not you have deducted the voluntary payments from your taxable income:

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You have deducted the PER payments from your taxable income

The rules differ depending on the situation:

Annuity outing
In 2025

The annuity from voluntary payments already deducted is taxable at income tax, in accordance with the rules applicable to retirement pensions.

The amount of the pension must be declared and added to your taxable income in the category of pensions, pensions and annuities. On all income in this category, the tax authorities automatically apply a abatement from 10%within the limit of an annual ceiling per tax household.

Some social levies shall also apply on a fraction of the annuity. The taxable portion varies according to your age on the date of 1er payment of the annuity.

The fraction of the annuity taxable to social security contributions is:

  • 70% if you were under 50
  • 50% if you were between 50 and 59 years old
  • 40% if you were between 60 and 69 years old
  • 30% if you were over 69.

For annuities paid in 2025, the social levies on investment income is of 17.2%

From 2026

The annuity from voluntary payments already deducted is taxable at income tax, in accordance with the rules applicable to retirement pensions.

The amount of the pension must be declared and added to your taxable income in the category of pensions, pensions and annuities. On all income in this category, the tax authorities automatically apply a abatement from 10%within the limit of an annual ceiling per tax household.

Some social levies shall also apply on a fraction of the annuity. The taxable portion varies according to your age on the date of 1er payment of the annuity.

The fraction of the annuity taxable to social security contributions is:

  • 70% if you were under 50
  • 50% if you were between 50 and 59 years old
  • 40% if you were between 60 and 69 years old
  • 30% if you were over 69.

The rate of social levies on investment income is of 18.6%, applicable to annuities paid from 1er January 2026.

Capital outflow
In 2025

The share of capital corresponding to the cumulative voluntary payments shall be imposed on progressive scale of income tax, without social security contributions.

In practice, the share of capital corresponding to your voluntary payments (already deducted from your taxable income in the year of payments) is added to your taxable income in the year of exit, in the category of retirement pensions. This share of capital is taxable without the deduction of 10%.

The share of capital corresponding to the interest generated by the contract is subject to the one-off flat-rate levy (PFU) made by the bank before it pays you the capital.

For interest received up to 31 December 2025, the overall flat-rate levy applied by the bank shall be 30%, corresponding to 12.8% in respect of income tax and 17.2% under the social levies on investment income.

From 2026

The share of capital corresponding to the cumulative voluntary payments shall be imposed on progressive scale of income tax, without social security contributions.

In practice, the share of capital corresponding to your voluntary payments (already deducted from your taxable income in the year of payments) is added to your taxable income in the year of exit, in the category of retirement pensions. This share of capital is taxable without the deduction of 10%.

The share of capital corresponding to the interest generated by the contract is subject to the one-off flat-rate levy (PFU) made by the bank before it pays you the capital.

For interest earned on or after 1er in january 2026, the overall flat-rate levy applied by the bank is 31.4%, corresponding to 12.8% in respect of income tax and 18.6% under the social levies on investment income.

The non-derogatory flat-rate levy of 12.8% is paid on account of income tax at the time of payment of interest.

You can claim exemption from the flat-rate levy if your reference tax income for the penultimate year is less than:

  • €25,000 if you are single
  • €50,000 for a married or former couple subject to joint taxation.

For an exemption request made in 2026, your 2024 reference tax income must be taken into account. The request should be addressed to the financial institution that pays you the interest at the latest at the time of collection.

In general, the financial institution sends you a completed sworn form to return if you meet the conditions.

You have not deducted the PER payments from your taxable income

The rules differ depending on the situation:

Annuity outing

The annuity is taxable at income tax according to the applicable rules life annuities for consideration. It is a tax system that deals only with a fraction of the annuity and which takes into account your age at the date of the release of the pension.

Thus, your age on date 1er payment of the annuity determines the taxable portion of the annuity, this portion is:

  • 70% if you were under 50
  • 50% if you were between 50 and 59 years old
  • 40% if you were between 60 and 69 years old
  • 30% if you were over 69.

The taxable fraction of the annuity is also subject to social levies on wealth income at the rate of 18.6%.

Capital outflow
In 2025

The share of capital corresponding to accumulating your voluntary payments (not deducted from your taxable income in the year of payments) is exempt income tax and social security contributions.

Only the share of capital corresponding to interest generated by the contract is taxed on investment products. It is subject to the one-off flat-rate levy (PFU) made by the bank before it pays you the capital.

For interest received up to 31 December 2025, the overall flat-rate levy applied by the bank shall be 30%, corresponding to 12.8% in respect of income tax and 17.2% for social security contributions.

From 2026

The share of capital corresponding to accumulating your voluntary payments (not deducted from your taxable income in the year of payments) is exempt income tax and social security contributions.

Only the share of capital corresponding to interest generated by the contract is taxed on investment products. It is subject to the one-off flat-rate levy (PFU) made by the bank before it pays you the capital.

For interest earned on or after 1er in january 2026, the overall flat-rate levy applied by the bank is 31.4%, corresponding to 12.8% in respect of income tax and 18.6% under the social levies on investment income.

The non-derogatory flat-rate levy of 12.8% is paid on account of income tax at the time of payment of interest.

You can claim exemption from the flat-rate levy if your reference tax income for the penultimate year is less than:

  • €25,000 if you are single
  • €50,000 for a married or former couple subject to joint taxation.

For an exemption request made in 2026, your 2024 reference tax income must be taken into account. The request should be addressed to the financial institution that pays you the interest at the latest at the time of collection.

In general, the financial institution sends you a completed sworn form to return if you meet the conditions.

If you die before you unlock your PER, the plan will be closed. Savings must be paid to your heirs or beneficiaries that you have designated in the contract, in the form of capital or annuity.

If you die while the PER was already unlocked and you receive a life annuityHowever, amounts that have not yet been paid to you may be transferred provided that the reversion from the annuity to an already designated beneficiary. If the life annuity is not reversible, the remaining savings will not be distributed.

Following your death, the taxation of the amounts that will be passed on to your heirs or beneficiaries depends on the nature of the plan.

Bank PER or Investment PER

If it is a plan opened in the form of a securities account, the sums saved and transferred shall be incorporated into theestate assets and taxed according to inheritance tax.

Insurance RIP

If it is a plan that has led to the adherence to a group insurance contractHowever, the sums saved and transferred are taxed according to rules similar to life insurance.

The situation varies depending on whether the death of the PER holder occurred before or after 70 years:

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Death before age 70

One abatement from €152,500 shall be applied to the sums due to each beneficiary.

The balance is subject to a direct debit of 20% by co-payment taxable income accruing to each beneficiary less than or equal to €700,000.

The taxable share of each beneficiary greater than €700,000 is subject to a levy of 31.25%.

Death after age 70

Amounts paid by the insurer (savings and earnings) are subject to inheritance tax after application of a abatement from €30,500.

This allowance is global and must be shared between the beneficiaries and distributed according to their share in the taxable sums.

Inheritance tax is calculated on the basis of the relationship between each beneficiary and the holder of the deceased PER.

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Transfer of old savings products to the individual PER

You can transfer retirement savings products that existed before 1er October 2019 on the individual RIP:

  • Popular Retirement Savings Plan - Perp
  • Madelin contract
  • Prefon
  • Group Retirement Savings Plan - Perco
  • Mutual pension supplement - Corem
  • Hospital Retirement Supplement - CRH
  • Contract article 83.

If you have held the product for less than 10 years, the transfer fee may be charged up to a maximum of 5% of the accumulated savings.

The transfer must be made within a maximum of 4 months.

In the event of a delay, you may refer the matter to the Ombudsman of the Autorité des marchés financiers.

Who shall I contact

  • If you encounter a difficulty with a financial intermediary or a listed business, you can refer the matter to the AMF Ombudsman.

    Careful : before submitting your complaint, make sure that your request falls within the AMF's jurisdiction.

    By mail

    Access to contact form

    By post

    Ombudsman of the Autorité des marchés financiers

    17 place de la Bourse

    75082 PARIS CEDEX 02

    By phone

    01 53 45 60 00

FYI  

The tax advantage linked to the transfer of an insurance contract of more than 8 years to a PER (doubling of abatements related to detention) ceased on 31 December 2022.

Transfer from the individual PER to another PER

You can transfer the accumulated savings on the individual PER to all other PERs.

The transfer is free if you have held the product for at least 5 years or if the transfer occurs after the plan expires.

If you have held the product for less than 5 years, the transfer fee may be charged, up to a limit of 1% of the accumulated savings.

From the receipt of the transfer request and the supporting documents, the plan manager shall have a period of 2 months to transmit to the new manager the information necessary to carry out the transfer.

In the event of a delay, you may refer the matter to the Ombudsman of the Autorité des marchés financiers.

Who shall I contact

  • If you encounter a difficulty with a financial intermediary or a listed business, you can refer the matter to the AMF Ombudsman.

    Careful : before submitting your complaint, make sure that your request falls within the AMF's jurisdiction.

    By mail

    Access to contact form

    By post

    Ombudsman of the Autorité des marchés financiers

    17 place de la Bourse

    75082 PARIS CEDEX 02

    By phone

    01 53 45 60 00