Retirement Savings Plan (RSP) - Individual RIP 

Verified 13 novembre 2025 - 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 (investment 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.

ERPs already open before 1er January 2024 on behalf of a minor child remain open. But it is no longer possible to make payments until the child reaches the age of 18.

Please note

It is no longer possible to open an individual PER for a minor child since the marketing of climate futures savings plan. Indeed, this new long-term savings product is reserved for children and young people under 21. The funds invested in this plan are used to finance projects in the field of ecological transition.

To open an individual PER, there is no condition related to the professional situation of the holder. There is no age limit.

Any individual (over the age of 18) can save on an individual PER: employee, head of company, self-employed, self-employed, professional, jobseeker, unemployed or retired.

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Investment RIP

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

Insurance RIP

The individual PER giving rise to the accession to a group insurance contract must be subscribed through a specialist business. It is an association that subscribes to group life insurance contracts (with an insurance company, a mutual or a pension fund).

The individual PER may also be subscribed to by a supplementary occupational pension fund.

The contract may be marketed by an intermediary on behalf of an association that underwrites group insurance contracts or an additional occupational pension fund (bank or financial advisor).

FYI  

The insurance PER allows for the designation of 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) is funded by payments from the employer of the plan holder. 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 stated by you, the management of the amounts paid on the PER is 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.

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:

  • Account Evolution
  • 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 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's value-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.

They 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.

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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 (between 62 and 64 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 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 entitlement to unemployment benefits
  • Over-indebtedness (in this case, the over-indebtedness commission must apply)
  • Termination of self-employed activity following a judgment of judicial liquidation
  • Acquisition of the 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 the payment
  • Proof of the exceptional situation of early release that you invoke.

The method of taxing the capital resulting from the early release depends on the reason for the release.

If the release is based on a ground other than that of the principal residence, the part of the released capital corresponding to the payments is exempt from income tax and social security contributions.

The share of the unlocked capital corresponding to earnings is subject to social levies.

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 unlocked capital corresponding to earnings is taxed on the single flat-rate levy (PFU) of 30%.

If you have not deducted the payments, the part of the released capital corresponding to the payments is exempt from income tax and social security contributions.

The share of the unlocked capital corresponding to earnings is taxed on the single flat-rate levy (PFU) of 30%.

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 doesn't have an age limit, you can continue to fund your individual PER as long as you haven't 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.

As with previous years' payments, you can choose to make deductible or non-deductible payments of the plate income tax. You have a limited tax deduction every year.

Tax advantage on voluntary payments

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 give up to the deduction for the year of payment, you will benefit from a reduced tax at the time of the exit of the individual PER.

The annual deduction voluntary payments shall be 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 steps.

The deduction limit for pension contributions is equal to 10% of your 2024 operating income (net of professional expenses) (with a maximum of €35,194), or to €4,637 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 3 years, from the oldest to the newest.

Example :

You didn't use your full deduction limit in 2023 and 2024.

Your 2025 contributions are deducted as a priority from your 2025 limit.

The amount that exceeds your 2025 cap is deducted from the remaining portion of your 2023 cap and then from the remaining portion of your 2024 cap.

The personalized ceiling applicable to your contributions paid in 2025 is indicated on your tax notice 2025 (on 2024 revenues).

It corresponds to the sum of the ceiling calculated on your 2024 revenues and the unused ceilings calculated on the revenues of the previous 3 years.

You are unemployed or retired without professional income

The ceiling is €4,637.

The ceiling is increased of the unused deduction limit (or of the portion of the limit) in the previous 3 years, from the oldest to the newest.

Example :

You didn't use your full deduction limit in 2023 and 2024.

Your 2025 contributions are deducted as a priority from your 2025 limit.

The amount that exceeds your 2025 cap is deducted from the remaining portion of your 2023 cap and then from the remaining portion of your 2024 cap.

The personalized ceiling applicable to your contributions paid in 2025 is indicated on your tax notice 2025 (on 2024 revenues).

It corresponds to the sum of the ceiling calculated for your 2024 revenues and the unused ceilings calculated on the revenues of the previous 3 years.

FYI  

Some special rules shall apply to self-employed persons.

Taxation of annuity or capital

The tax regime of 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

Annuity Exit

The annuity 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 administration automatically applies a abatement of 10%within the limit of an annual ceiling per tax household.

Some social levies shall also apply to a fraction of the pension. The taxable portion varies according to your age at the date of the release of the pension. The rate of social security contributions is 17.2% .

Capital outflow

The share of capital received corresponding to voluntary payments shall be taxed on progressive scale of income tax.

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 a flat-rate levy (PFU) of 30%, corresponding to 12.8% in respect of income tax and 17.2% for social security contributions. The bank shall draw down 30% before you pay the principal.

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

You can apply to be exempt from the lump sum deduction if your reference tax income for the penultimate year is less than €25,000 (€50,000 for a couple).

For an exemption request made in 2025, your 2023 reference tax income must be taken into account.

The request should be addressed to the financial institution that pays you the income at the latest on November 30 of the year preceding the year of payment (before November 30, 2025 to benefit from an exemption in 2026).

In general, the 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

Annuity Exit

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 portion of the annuity is also subject to social levies. The rate of social security contributions is 17.2% .

Capital outflow

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

Only the share of capital corresponding to the interest generated by the contract is taxed: it is subject to a flat-rate levy (PFU) of 30%. This levy corresponds to income tax in the amount of 12.8% and social security contributions in the amount of 17.2%.

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

You can apply to be exempt from the lump sum deduction if your reference tax income for the penultimate year is less than €25,000 (€50,000 for a couple).

For an exemption request made in 2025, your 2023 reference tax income must be taken into account.

The request should be addressed to the financial institution that pays you the income at the latest on November 30 of the year preceding the year of payment (before November 30, 2025 to benefit from an exemption in 2026).

In general, the 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 transferred to your heirs or beneficiaries depends on the nature of the plan.

Investment RIP

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 resulted in 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 of €152,500 shall be applied to the sums due to each beneficiary.

The balance is subject to a direct debit of 20% by share taxable income of 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 of €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

  • Ombudsman of the Autorité des marchés financiers (AMF)

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

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

    By courier

    Access to contact form

    By mail

    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

  • Ombudsman of the Autorité des marchés financiers (AMF)

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

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

    By courier

    Access to contact form

    By mail

    Ombudsman of the Autorité des marchés financiers

    17 place de la Bourse

    75082 PARIS CEDEX 02

    By phone

    01 53 45 60 00