PERCO: existing plans, collective PER and transformation

Since October 1, 2020, companies can no longer set up a PERCO (collective retirement savings plan). According to the PERCO information sheet on service-public.gouv.fr, existing PERCOs "can continue to accept new participants" without time limits. The PERCO has been replaced by the company's collective retirement savings plan (PER d'entreprise collectif). An existing PERCO can be converted into a PER d'entreprise collectif by the company, and retirement savings products that existed before October 1, 2019, including the PERCO, can be transferred to this PER. The information sheet presents this conversion as a possible option.

This page describes an existing PERCO (collective retirement savings plan), its withdrawal and taxation, then its transformation and transfer. It does not address the situation of non-residents, the details of the social security contribution, or the euro amounts of the employer contribution, which the official pages describe in two similar ways (see below).

Key dates

The BOFiP publishes yet another chapter on the tax regime of the Perco (version of 17/02/2026).

Perco and collective PER, side by side

Regarding the maximum euro amount for employer contributions, the official websites do not state it in the same way (service-public.gouv.fr uses a round number, economie.gouv.fr uses a number to one decimal place). We are not taking a definitive stance: the amount that applies to you is specified in your plan rules. For PER deductions, see our page on the deduction limit; for executive access, see our page on the PEE and the collective PER.

Transforming or transferring a Perco

What the administration says

The official documentation describes several distinct mechanisms. They should not be confused.

1. The transformation of the Perco by the company

• The company can transform its Perco into a collective company PER (see fact sheet «Retirement savings plan (PER)»).
• The "Transfer between employee savings plans" fact sheet (page checked on August 23, 2024, therefore old) sets out three conditions: the Perco was set up in compliance with legal and regulatory conditions, the company informed and consulted the social and economic committee, and the original signatories of the Perco agreement do not oppose the transformation.
• This document does not specify a timeframe in months for the transformation. It indicates that the transformation takes effect after the company has informed the beneficiaries of the plan.

2. Collective transfer initiated by the company

• According to the same 2024 document, the employee cannot refuse it: "You cannot refuse the transfer, which must take place within 6 months of the decision being made."«

3. Transfer of old retirement savings products to the group retirement savings plan (PER collectif)

• Retirement savings products existing before October 1, 2019 can be transferred to this PER. The transfer must be completed within a maximum of 4 months (see the "Retirement Savings Plan (PER)" fact sheet).
• The account holder can request the transfer of their PERCO savings to the company's collective PER. According to the 2024 information sheet, this type of transfer is possible once every 3 years.

Transferring from a company group retirement savings plan (PER) to another PER

• The maximum transfer period is 3 months. The transfer is free if you have held the product for at least 5 years. Otherwise, a fee may be charged, up to a limit of 1 % of the outstanding balance.

The previous social security contribution rates are retained when transferring a PERCO (collective retirement savings plan): the information sheet states that "the social security contribution rates in effect at the time of the deposits are retained." For tax purposes, the BOFiP (French Official Tax Bulletin) treats rights transferred from a PERCO as rights derived from tax-exempt employee savings contributions.

What this page does not resolve

We don't specify which of these mechanisms, and therefore which of these deadlines, applies to your plan. The information sheets are from 2024 and 2026: ask your manager or employer. For fees and delays, see our page on transferring a PER (Retirement Savings Plan).

Exiting a Perco: annuity or capital

The funds in the PERCO are locked until retirement. Payment is generally made in the form of a lifetime annuity. The plan rules may provide for a lump sum payment, either in one installment or in installments.

As an annuity

Only a portion of the annuity is subject to income tax. This portion depends on your age at the time of the first payment:

The taxable portion is also subject to social security contributions at a rate of 18.6%. This rate does not apply to the entire annuity, but only to this portion.

As a lump sum

• The portion of the capital that corresponds to your payments is exempt from income tax and social security contributions.
• The portion corresponding to the gains is exempt from income tax, but subject to social security contributions at a rate of 18.6 %.

Income during the plan's term

Income from securities held within the plan is exempt from income tax if reinvested within the plan. If not reinvested, it is taxable, subject to social security contributions of 18.6%. A plan invested in securities carries a risk of capital loss.

Early release

Before retirement, the Perco can be accessed in the following cases:

• death (of the employee, their spouse or civil partner); ;
• disability (of the employee, their spouse or civil partner, their children); ;
• employee over-indebtedness; ;
• acquisition of the main residence, or restoration after a natural disaster; ;
• Expiration of unemployment insurance benefits.

The request can be made at any time, except for the main residence, where it must be made within 6 months (see the "Early Release of Employee Savings" fact sheet, verified on October 12, 2026). The capital paid out in these cases is exempt from income tax; the portion of gains is subject to social security contributions.

The company-sponsored group retirement savings plan (PER) has its own list of eligible cases. For the purchase of a primary residence, the rights accrued from mandatory contributions remain locked. See our page on early withdrawal of employee savings.

What the 2026 Finance Law Changes

According to the BOFiP (version in effect since August 10, 2026), employer contributions to a company group retirement savings plan (PER), like sums corresponding to unused vacation days, are no longer exempt from income tax when the account holder is 70 years of age or older on the date of payment. This provision applies from January 1, 2026. The BOFiP links it to Article 9 of Law No. 2026-103 of February 19, 2026, the 2026 Finance Law. This page does not provide any further details regarding the consequences of this rule.

Numerical example (fictitious profile)

Situation. Marc, 61, is an employee of a company that offers a PERCO (employee savings plan). His plan has €50,000 in assets, including €38,000 in contributions and €12,000 in gains. The plan rules stipulate a lump sum or an annuity. Assuming Marc retires at 61, releasing the funds, and the annuity, if chosen, begins at age 61.

Issue. He wants to measure social security contributions upon retirement and understand the role of age in determining an annuity.

Strategy. Apply the rules of administration to each form of output, with simple assumptions.

Result.

Capital gains are subject to no income tax. Social security contributions are levied only on the gains.

For an annuity of €3,000 per year (hypothetically), the taxable portion changes with age at the first payment. Marc, whose annuity starts at age 61, falls under the category "60 to 69 years old":

These two tables are not comparable: one relates to a lump sum, the other to an annual annuity. The income tax due on the taxable portion depends on Marc's situation; it is not calculated here.

This profile is fictitious. The retirement age and amounts are hypothetical. The figures illustrate the mechanism and do not predict any outcome for your specific situation.

What changes depending on your situation

• Your plan: what its regulations stipulate (capital, annuity, contribution ceiling).
• Your company's decision: whether or not to transform the Perco into a collective company PER, or to decide on a collective transfer.
• Your age at the first payment of an annuity determines the taxable portion.
• Your age on the date of payment of the employer contribution, with regard to the threshold of 70 years for a collective PER.
• The reason for early release, and the deadline for requesting it.
• Your tax residence, which this page does not address.

This page does not show the amount of your tax. No results are guaranteed: the rule is verified on your individual case.