Employee savings: early release up to 10,000 euros, what you need to know

Employee savings: early release up to 10,000 euros, what you need to know

It will be possible to release employee savings more easily until the end of 2022.
It will be possible to release employee savings more easily until the end of 2022. (© Olivier Le Moal / Adobe Stock)

Under the two sets of measures in favor of purchasing power, recently voted by Parliament, several reinforcements were granted. of between it , Early release of employee savings up to 10,000 euros.

About 9.5 million people who have employee savings in France and exceptionally release their money to deal with inflation and price hikes of all kinds could be affected.

What exactly are employee savings?

Employee savings is a “collective savings system created within certain companies”, refers to the site service-public.fr.

When the company offers either “a bonus linked to the company’s performance (profit-sharing) or represents a share of its profits (profit-sharing)”, the employee can, at his choice, directly obtain this bonus, which will be paid or deposited into an employee savings plan.

The company can offer several types of employee savings:

  • The Company Savings Scheme (PEE), which allows “the purchase of securities with the assistance of the company.”
  • A group retirement savings plan (Perco), which allows you to block employee savings until retirement, in order to receive an additional pension. 1 . agoVerse October 2020, PERCO can no longer be created in companies, but funds can still be deposited or transferred to PER.
  • Retirement Savings Plan (PER): This is a new retirement savings plan that also allows you to create an extension. It aims to replace all other existing savings plans, including Perco.

What has changed ?

Every year, in companies where employee savings plans are offered, the employee receives a letter informing him of the amount he is benefiting from, To be received directly or put into an employee savings account. In the latter case, the employee leaves an amount that varies according to the company, for an average of five years in the account (this varies according to the savings plan).

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We can actually do this in some cases

Until then, it was only possible to request early release of employee savings for certain reasons: termination of the employment contract (dismissal or resignation), death, disability, domestic violence, over-indebtedness, divorce-marriage, childbirth, purchase of a house … in in In this case, the amounts resulting from early release are “exempt from income tax, but subject to social security contributions”, states service-public.fr.

With the new procedure adopted by Parliament, Employees can now release their employees’ savings at any time, until December 31, 2022, up to a maximum of €10,000.

Once again, refunds will not be taxed, and this time they are not subject to Social Security contributions (at the current rate of 17.20%).

A way to restore the purchasing power of about “9.5 million employees who will have access in 2020 to at least one profit-sharing, profit-sharing or employee savings plan,” according to Dars.

To unlock this money, all at once, you must approach your company. Note that Group Retirement Savings (Perco) plans are not eligible for the device, just as if your savings were “for money invested in partnerships.”

keep the evidence

The measure will be implemented once the law is published in Official Gazette.

Accuracy: If a release request can be made at any time until December 31, 2022, the refunds must still be allocated to “the purchase of one or more goods or the supply of one or more services,” specifying the approved measure.

The employee must remain ‘available [du fisc] Identification documents that prove the use of the released amounts.

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