A very unpleasant surprise for taxpayers who want to reduce their income tax by opening a retirement savings plan (PER) for their minor child. In 2024, it will be impossible for them to use this little ploy to exempt part of their income from tax. The finance bill (PLF) for 2024 establishes that from January 1, only adults will be able to subscribe to a PER. News that does not delight our reader, Oriane, who has already opened a plan for her 10-year-old son. She wonders what to expect next and therefore asks the experts of the “Grand meeting of savings” (Capital / Radio Patrimoine) to obtain information on this subject. Charlotte Thameur, consulting director at Yomoni, is responsible for helping him.
Important clarification from our expert: not only will it no longer be possible to subscribe to a PER for a child under 18 next year, but “from 2024, we cannot no longer pay money into your child’s PER». Consequence: if the plan is not destined to disappear, it can no longer be supplemented. And Oriane’s son risks waiting many years before being able to recover this capital. Because as a reminder, a PER can only be released in certain very specific situations: retirement obviously, the purchase of the main residence or even some less desirable cases (death of the spouse, over-indebtedness, end of unemployment rights, etc.).
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Concrete translation: “For this 10-year-old child, if he buys his primary residence at 30, he will have to wait…”, points out Charlotte Thameur. A situation which can become very frustrating, especially if Oriane has not skimped on the payments.
The unsuspected and ultra-effective tax advantage of the retirement savings plan
The parade of transfer to the future climate savings plan
But blocking the PER of a minor child subscribed before 2024 is not inevitable, as our expert points out. Because it is also next year that the Future Climate Savings Plan (PEAC) will see the light of day, a new product intended for under-18s which promises a higher return than that of the Livret A in return for taking of risk.
Future climate savings plan: what is this new investment which should yield more than the Livret A?
And, good news, “it will be possible to transfer the PER to the PEAC”, says Charlotte Thameur. Which should, in theory, make it possible to release funds from the age of 18, without having to wait for the purchase of the main residence. The unavailability of savings will therefore be reduced, in exchange for an increased risk of capital loss compared to a PER.
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