Retirement savings plan () - of collective company

Verified 18 juin 2026 - Public Service / (Prime Minister), Ministry of Finance

Your situation

  • This is a collective company PER
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The collective company plan (also called PERECO or PERECOL) is a plan open to all employees of a company, without obligation to subscribe. This new product succeeds the Perco, which can no longer be implemented since the 1er October 2020. Your company can turn the Perco into a collective company. The new plan entitles you to tax benefits and your rights are transferable to others. The plan's deadline is the retirement age, but with cases of early release.

The collective company fund (also called PERECO or PERECOL) is a long-term savings product. It allows you to save during your period of activity to get, with the help of your company, a capital or a annuity at retirement age. The implementation of this plan by the company is optional.

All companies can offer a collective company to their employees, even if they do not have a company savings plan (PEES).

The plan must be open to all employees. However, a seniority condition may be required (3 months maximum).

Membership is optional, but the regulation may provide for automatic membership of all employees. In this case, you must be informed of your membership, under the conditions provided for by the regulation. You then have 15 days to let it be known that you refuse to adhere to the plan.

If you change your company, you can transfer your collective company:

  • in the {circumflex over} of your new business
  • or in an individual.

FYI  

In a company with fewer than 250 employees, the Civil partnership or partner of the head of company who has the status of employee may also benefit from the collective company.

The collective company system can be set up at company level, or in a business-to-business framework.

The plan can be set up on the initiative of the company's managers or by agreement with employee representatives. Where there is at least one trade union representative or a social and economic committee in the company (CSE), the employer is obliged to conduct prior negotiations with them before creating the plan.

The company may choose to combine the voluntary group savings plan and the mandatory group savings plan into a single plan. Older savings plans, such as Perco and Article 83, can be transferred into a single plan.

Origin of funds

Each, whether individual or collective, is organized into 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 No. 3 (category compartment) collects the employer's compulsory contributions, possibly supplemented by the employee's compulsory contributions if the company agreement so provides.

Managed Management

Unless otherwise specified by you, the management of the sums paid on the 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.

The collective company fund must offer you at least one alternative investment vehicle, which allows you to invest in a solidarity fund.

There are 4 investment profiles with a « retirement horizon »: prudent, balanced, dynamic or offensive.

Unless you tell us otherwise, the « balanced retirement horizon » profile will be applied by the manager of your.

Information of the employee

When you are hired, the employer must give you an employee savings account indicating the measures implemented in the company.

If the company has set up a collective company plan, it must provide you with a by-law that informs you of the plan and its content.

Each year, the manager must give you the following information:

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

From the 5e In the year before your retirement age, you can ask the manager of the {tilde over (B)} about exit options that are appropriate for your situation.

Payments by the employee

You can fund your collective company with:

  • Voluntary payments
  • Amounts from profit-sharing
  • Amounts from the participation
  • Payments of all or part of the value-sharing premium (PPV) or the premium resulting from the company's value-sharing plan (PPVE)
  • Rights on a time savings account (CET) based on the value of the corresponding leave with pay allowance
  • In the absence of CET, amounts corresponding to days of rest not taken, up to a limit of 10 per year.

You can also transfer funds from another company, individual or other retirement savings products (PERP, Madelin, Perco, etc.) to your collective company account.

As long as you work in the company, the costs of managing the collective are covered by your employer.

There is no cap on voluntary payments on the CEECP, but the annual amount you can deduct from your taxable income is capped.

Payments by employer

The collective company fund may be funded by additional payments from the company, called abundances. The contribution may not exceed 3 times the amount you paid yourself, nor be greater than €7,690.

In addition, even in the absence of payment from the employee, if the plan's regulations so provide, the company may make an initial and periodic payment.

In principle, the amounts paid on a Pereco are blocked until the date you receive your retirement pension or until the legal retirement age.

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

  • Death of spouse or Civil partnership partner of holder of
  • Disability (2nd or 3rd category) of the holder of the -, his children, his spouse, or his Civil partnership partner
  • Serious illness, disability or occurrence of an accident of a particular severity in the dependent child of the holder of the
  • Over-indebtedness of the holder of the ₩(in this case, it is the over-indebtedness commission that must write to the managing body of ₩)
  • Expiry of the unemployment insurance rights of the holder of the - 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
  • Termination of self-employed activity of the holder of the
  • Purchase of the principal residence (but in this case, the rights resulting from compulsory payments remain blocked).

Your collective company can be unlocked 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 can request that the savings resulting from the payments into your {circumflex over (Y)} be paid:

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

Savings from compulsory payments into a company pension fund are paid only as an annuity.

But if the monthly amount of the annuity does not exceed €110, the annuity may be converted into capital by mutual agreement between the insurer and the beneficiary of the annuity.

This possibility of conversion (or redemption) exists at the time of the release of the {circumflex over ({circumflex over)} or even later when these low annuities are already being paid.

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Transfer of old savings products to Pereco

You can transfer retirement savings products that existed before 1er october 2019 on collective company:

  • PEOPLE'S RETIREMENT SAVINGS PLAN - PERP
  • Madelin contract
  • Prefon
  • GROUP RETIREMENT SAVINGS PLAN - PERCO
  • Mutual pension supplement - Corem
  • Hospital Retirement Supplement - CRH
  • Contract article 83.

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

In case of delay, you can 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.

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

    By courier

    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

In the event of a transfer of savings on a Perco to a collective company savings plan, the social security contributions in force at the time of the deposits are retained.

FYI  

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

Transfer of the collective company to another

You can transfer the accumulated savings on the collective company account to all other accounts. The transfer is possible at any time when you have left the company.

If you are still in the company, the transfer is also possible, but up to one transfer every 3 years.

The transfer is free if you have owned the product for at least 5 years. If you have owned the product less than 5 years, the transfer fee may be charged to you, up to a maximum of 1% of the outstanding amount.

The transfer must take place within a maximum of 3 months.

In case of delay, you can 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.

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

    By courier

    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

Taxation at entry

As long as they are completed before your 70th birthday, the voluntary payments you make to a company-owned entity in a year are deductible of your taxable income for this year. This deduction shall not exceed an amount fixed for each member of the tax home.

In 2026, the deductible limit of your taxable income is equal to the greater of the following 2 amounts:

  • 10% of 2025 employment income, net of social security contributions and employment expenses, with a maximum deduction of €37,680,
  • or €4,710 if this amount is higher.

If you do not deduct voluntary payments from your taxable income, you will be taxed only on capital gains at the time of the liquidation savings.

Amounts and entitlements from employee savings in company (profit-sharing, participation, sharing of value, employer contributions) voluntarily allocated in your company savings account are exempt from income tax.

Taxation at exit

Output taxation depends on the nature of the payments that have fed the liquidation savings (annuity or capital):

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Voluntary payments tax deducted

Annuity release
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 is in addition 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 from 10%within the limit of an annual ceiling per tax household.

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

The portion 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 security contributions 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 is in addition 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 from 10%within the limit of an annual ceiling per tax household.

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

The portion 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 security contributions 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 accumulation of voluntary payments shall be imposed on progressive scale of income taxwithout social security contributions.

In practice, the share of capital corresponding to your voluntary payments (already deducted from your taxable income in the year of the 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 rate of the 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 security contributions on investment income.

From 2026

The share of capital corresponding to the accumulation of voluntary payments shall be imposed on progressive scale of income taxwithout social security contributions.

In practice, the share of capital corresponding to your voluntary payments (already deducted from your taxable income in the year of the 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 bank’s overall flat-rate levy is 31.4%, corresponding to 12.8% in respect of income tax and 18.6% under the social security contributions on investment income.

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

You can apply to be exempt 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 entered into a civil partnership couple subject to common taxation.

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

In general, the financial institution provides a completed sworn return form if you meet the conditions. If you have a personal space set up by your manager, the waiver request can be made in electronic format.

Voluntary payments not tax deducted

Annuity release

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 pension and which takes into account your age at the date of the release of the pension.

Thus, your age as of 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 in respect of 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 rate of the 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 security contributions on investment income.

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 in respect of 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 bank’s overall flat-rate levy is 31.4%, corresponding to 12.8% in respect of income tax and 18.6% under the social security contributions on investment income.

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

You can apply to be exempt 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 entered into a civil partnership couple subject to common taxation.

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

In general, the financial institution provides a completed sworn return form if you meet the conditions. If you have a personal space set up by your manager, the waiver request can be made in electronic format.

Company payments from employee savings plans

Company payments from employee savings (profit-sharing, participation, employer contributions) can be liquidated as an annuity or as capital:

Annuity release

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

Thus, your age as of 1erpayment 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 on wealth income at the rate of 18.6%.

Capital outflow

The share of capital corresponding to payments from employee savings schemes is exempt income tax and social security contributions.

Only the share of capital corresponding to interest generated on the plan is taxed in respect of 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 bank’s overall flat-rate levy is 31.4%, corresponding to 12.8% in respect of income tax and 18.6% under the social security contributions on investment products.

Mandatory payments

Savings from compulsory payments into a company pension fund are paid only as an annuity.

The annuity shall be taxed on income tax in accordance with rules applicable to retirement pensions. It is also subject to social security contributions.

But if the monthly amount of the annuity does not exceed €110, the annuity may be converted by mutual agreement between the insurer and the beneficiary of the annuity.

This possibility of conversion exists at the time of the release of the {circumflex over (X)} or even after when the annuities are already being paid.

In this case, the share of capital corresponding to mandatory company payments is subject to income tax in the category of pensions and retirement, but without the application of the 10%.

The share of capital corresponding to earnings is subject to the PFU (single flat-rate levy) but with the possibility of an option for the application of the progressive income tax scale.

This levy corresponds to income tax at a flat rate of 12.8% to which social security contributions are added.

If you die, the plan will not be automatically closed.

The money you have saved will be returned to your heirs or beneficiaries that you have designated in the contract, in the form of capital or annuity.

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.

If it is a plan that has led to the adherence to a group insurance contract, the sums saved and transferred are taxed according to rules similar to life insurance. The situation varies depending on whether the death of the holder of the certificate occurred before or after 70 years.

Please note

In the event of death after age 70, the sums paid by the insurer (savings and earnings) are subject to the 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.