PEAC: conditions, €22,950 ceiling and exit

The Climate Future Savings Plan (PEAC) is reserved for individuals under 21 years of age residing in France. The maximum contribution is €22,950. Funds are locked in for 5 years, and withdrawals require the holder to be at least 18 years old. The plan is automatically closed on December 31st of the year the account holder turns 30. Gains are exempt from income tax and social security contributions, subject to compliance with the plan's conditions, and must be declared on the income tax return.

The plan is invested in financial securities: its value may fall and the holder may lose part of the capital invested (service-public.gouv.fr, F38201).

This page describes the plan's rules. It does not address what happens to a PEAC if its holder ceases to reside in France, the amount of fees charged by institutions, the tax return box number, or the complete list of eligible investment vehicles. These points should be verified with the managing institution and on impots.gouv.fr.

Key figures

The PEAC was created by article 34 of law no. 2023-973 of 23 October 2023. According to the BOFiP, its provisions apply from 1 July 2024.

Who can open a PEAC?

According to the BOFiP (§ 20), the PEAC is reserved for individuals under 21 years of age who are habitually resident in France. Service-public.gouv.fr indicates that the plan can also be opened for a minor child by one of their parents.

A person can only hold one plan.

The plan can be opened with an authorized credit institution, investment firm, insurer, mutual society, or provident institution. In the case of an insurer, the underlying asset is a capitalization contract.

How do we fuel the plan?

Payments are made in cash. There are no set periodic amounts, and the service-public.gouv.fr website does not specify a minimum amount. The €22,950 limit applies from the plan's opening date (BOFiP, § 80). According to the BOFiP (§ 60), the plan's opening date is the date of the first payment.

One point determines the duration of funding: after a partial withdrawal from a plan opened for more than 5 years by a holder of at least 18 years, no further payments are possible (BOFiP, § 90).

The supports

The financial securities used as the basis for the PEAC (Equity Savings Plan) must bear a label. The BOFiP (French Official Tax Bulletin, § 190) provides for two options: the "socially responsible investment" (SRI) label, which includes climate-related requirements, or the environmental label stipulated in Article D. 128-2 of the French Environmental Code. The exact conditions can be found in the BOFiP and confirmed with the managing institution.

Among the eligible investments, the BOFiP (French Official Tax Bulletin) cites units or shares of French collective investment schemes in transferable securities. The complete list is not included here.

Account management or maintenance fees apply for the benefit of the manager. Their amount is not specified by economie.gouv.fr; this information should be requested from the institution.

The risk of capital loss

The PEAC (Equity Savings Plan) is invested in financial securities. The plan's value may decrease depending on market fluctuations, and the holder may lose part of the invested capital (service-public.gouv.fr, F38201). A loss upon closure, withdrawal, or redemption cannot be offset against gains of the same nature (BOFiP, § 330).

Withdrawals, step by step

Before the age of 18

Until the holder turns 18, pension rights can only be liquidated or redeemed, even partially, in the event of the holder's disability or the death of one of their parents (BOFiP, § 270). Service-public.gouv.fr specifies that the managing body then requires a sworn statement.

For a minor holder, the BOFiP distinguishes between two ages:

• For children under 16, withdrawal and closure operations are subject to the authorization of the legal representative; ;
• From 16 to 18 years old, the holder can do it himself, unless his legal representative objects.

From age 18, if the plan is more than 5 years old

Service-public.gouv.fr has two conditions: the funds are locked for 5 years, and withdrawal requires being at least 18 years old. The BOFiP (Official Bulletin of Public Finances) specifies that a partial withdrawal does not close the plan as long as it has been open for more than five years.

The plan is not closed by a partial withdrawal, but, on a plan opened for more than 5 years by an adult holder, no further payments are possible afterwards (BOFiP, § 90).

The transfer to another PEAC

Rights are transferable to another PEAC. According to service-public.gouv.fr, transfer fees are capped at 1 % of acquired rights, and are zero when the plan is more than 5 years old and the holder is at least 18 years old.

The 30-year fence

The holder can keep their plan for up to 30 years. They can also choose an expiry date before their 30th birthday, and change it at any time.

The plan is automatically closed on December 31st of the year the account holder turns 30 (service-public.gouv.fr, F38201). The BOFiP (§ 260) stipulates that organizations must close the plans of account holders who have reached the age of thirty during the year on December 31st.

The BOFiP (Official Bulletin of Public Finances) specifies that the funds from the redemption of rights are deposited into an account belonging to and designated by the account holder. The exact closing date of your account will be confirmed with the institution.

In the event of the death of the holder

According to the BOFiP (§ 270), if the account holder dies before the age of thirty, the plan is closed. For specific situations, the consequences should be confirmed with the managing institution before taking any action.

Taxation

The PEAC tax regime consists of an exemption from income tax and social security contributions (BOFiP, § 300). Service-public.gouv.fr (F2329, verified on 30/06/2026) classifies PEAC gains among the income exempt from social security contributions for residents.

Three rules complement this principle:

• The winnings must be declared. Service-public.gouv.fr reminds taxpayers of the obligation to declare net earnings. The BOFiP (§ 380) requires that these earnings be shown separately on form no. 2042 C; form no. 2074-PEAC is used to calculate the net earnings.
• A loss is not attributable. If the plan shows a loss at closure, withdrawal or redemption, it cannot be offset against gains of the same nature (BOFiP, § 330).
• Failure to comply with a condition has a cost. It leads to the closure of the plan and the taxation of the unduly exempted net gain (BOFiP, § 350).

Numerical example (fictitious profile)

Situation. Lucas was born on March 12, 2011. On November 1, 2026, at age 15, his mother opens a PEAC (French Equity Savings Plan) in his name and makes the first deposit on the same day (according to the BOFiP, § 60, the opening date is that of the first deposit). She then deposits €250 on the 1st of each month. Assumptions in this example: no gains are taken into account, deposits continue after Lucas turns 21 (this assumption needs to be confirmed with the institution), and no withdrawals are made before December 2031.

Issue. How much leeway does the €22,950 limit leave, and when can the plan be used?

Strategy. Date the three important steps: filling the ceiling, the first possible withdrawal, the closing.

Result.

If Lucas makes a partial withdrawal on December 15, 2031, after 62 payments (€15,500), the plan will be over 5 years old and Lucas will be of legal age: no further payments are possible. He then remains €7,450 of unused payment capacity on the ceiling of €22,950.

This profile is fictitious. The figures illustrate the calculation and do not guarantee the value of the plan or your individual circumstances. The invested capital may decrease.

What changes depending on your situation

• The age of the holder at the opening: the closer it is to 21 years old, the shorter the period until closing.
• The choice of the expiry date, before the 30th anniversary.
• The pace of payments in relation to the ceiling of €22,950, and the time of the first partial withdrawal, which stops payments on a plan opened for more than 5 years by an adult holder.
• The chosen medium and the establishment's fees.
• The holder's residence in France, which the page does not address after opening.

The rule depends on your situation. No results are guaranteed.