In summary…
The PERCO and its successor, the PER d'entreprise collectif (established by the PACTE law), are the retirement equivalent of the PEE: they combine your employee savings, employer matching contributions—often more generous as they are designed for a longer time horizon—and your unused vacation days. The portion from employee savings and employer matching contributions is exempt from income tax; only social security contributions are levied on the gains. Withdrawal is possible as a lump sum or as an annuity. This is one of the most effective ways to prepare for retirement when your company has a good employee savings plan.
- Long-term funding, exempt from income tax and often higher than on the PEE
- Exit of your choice, in a lump sum or as an annuity, unlike the old PERCO
- Triple power supply, Profit-sharing, employee stock ownership plans and unused CET days
Simulate your group retirement savings plan
The simulator isolates the cumulative employer contribution. Your data is neither stored nor transmitted.
PERCO/PER Collective Retirement Savings Plan Simulator
Plan your group company retirement plan and the associated employer contribution.
Results are provided for illustrative and educational purposes only, based on the parameters entered and simplified assumptions (2026 tax year, constant return, excluding inflation). They do not constitute personalized investment advice, tax advice, or an offer to subscribe. Some investments carry a risk of capital loss. Before making any decision, consult an advisor.
Why the group retirement savings plan (PER collectif) is the retirement weapon of choice for well-off employees
The company-sponsored group retirement savings plan (PER) combines two approaches that, taken separately, are not equally effective: the discipline of building up retirement savings until retirement, and the power of employer matching contributions. Because it aims for a long-term perspective, matching contributions are often more generous than in the company savings plan (PEE) — the employer is willing to contribute more to savings that they know will be locked in until retirement.
Its strength lies in the fact that it is contributed to rather than received. Profit-sharing, employee stock ownership plans, and unused time off (CET) days, when transferred to the group retirement savings plan (PER), are exempt from income tax and benefit from employer matching contributions, instead of being received and taxed. For an employee whose company has negotiated a favorable agreement, the cumulative effect on their career is considerable.
The PACTE reform removed the last obstacle to the former PERCO: lump-sum withdrawals are now possible, whereas the previous system favored annuities. The portion originating from employee savings and employer matching contributions is exempt from income tax—only social security contributions are levied on the gains. Voluntary contributions, however, are subject to the rules of the individual PER.
The 3 levers that this simulator highlights
Lever 1: Capture the increased long-term contribution
Because the group retirement savings plan (PER collectif) locks in savings until retirement, employers often contribute more generously than to the company savings plan (PEE). Maximizing this employer contribution is the first instinct: it's a guaranteed return, exempt from income tax, and higher than any market investment. Contributing at least up to the employer contribution limit of the retirement plan, even before contributing to other accounts, maximizes the "free money" portion of your retirement savings.
Lever 2: Allocate funds for profit-sharing, employee participation, and the CET (Time Savings Account) in the plan
When received, profit-sharing and employee stock ownership plans are taxed; when paid into a group retirement savings plan (PER), they are tax-exempt and trigger employer matching contributions. Unused vacation days held in a time savings account can also be contributed to the plan. Systematically directing these funds to the group PER rather than receiving them as cash transforms taxed bonuses into tax-free and employer-matched retirement savings—a strategy to be repeated annually.
Lever 3: Choosing between capital or annuity based on overall assets
Since PACTE, you can choose between a lump sum, an annuity, or a combination of both at retirement. This choice is significant: the portion derived from employee savings plans is exempt from income tax (gains are subject to social security contributions), while voluntary contributions are subject to the individual retirement savings plan (PER) regime. The best balance depends on your other retirement income, your liquidity needs, and your inheritance goals—a calculation that should be made before retirement, never in a rush.
Case study: Nathalie, 50 years old, sales manager in a mid-sized company in Lille
Nathalie directs her profit-sharing and employee stock ownership plan (ESOP) each year—approximately €3,000—to her company's group retirement savings plan (PER), which matches contributions at 50%. Over 12 years, with a return of 4%, here is the effect of the matching contribution alone:
| Indicator | Bonuses received and taxed | Bonuses paid into the group retirement savings plan | Gap |
|---|---|---|---|
| Annual payment | ≈ €3,000 | ≈ €3,000 | — |
| Tax on entry (TMI 30 %) | ≈ €900/year | 0 € | exempt |
| Employer contribution (50 %) | 0 € | ≈ €1,500/year | +€1,500/year |
| Capital built up over 12 years | ≈ €25,400 (net of income tax) | ≈ €55,800 | ×2,2 |
By allocating her bonuses to the group retirement savings plan (PER) rather than receiving them directly, Nathalie avoids income tax on contributions and receives €1,500 in employer matching contributions each year. Over twelve years, her retirement capital more than doubles what she would have retained by receiving and paying tax on her bonuses. Upon withdrawal, the portion from employee savings and employer matching contributions will be exempt from income tax—only social security contributions will be levied on the gains.
The lesson: when a company has a good employee savings plan, receiving bonuses directly rather than allocating them to the group retirement savings plan (PER) is a costly mistake. The difference lies not in market returns, but in the tax-free entry and employer matching contributions. The decision then becomes, when the time comes, between a lump-sum payout and an annuity—depending on one's overall financial situation.
Pay rather than receive, then arbitrate the exit
This simulator isolates employer contributions. However, the effectiveness of a group retirement savings plan (PER) depends on the overall approach: systematic allocation of profit-sharing, employee stock ownership plans, and time savings accounts (CET), maximizing employer contributions, and, most importantly, the allocation of capital versus annuity upon withdrawal, coordinated with your other retirement income and your estate planning objectives. It is this comprehensive perspective that transforms a good company plan into a true retirement strategy.
Balmont Conseil is an objective wealth management firm, a member of ANACOFI, with no capital ties to any bank. This objectivity allows us to analyze your company's structure as it stands and integrate it into your overall retirement strategy, without any incentive to push a specific product. Let's make an appointment to optimize your employee savings and prepare for the arbitrage of your exit.
Frequently Asked Questions
What is the difference between a PERCO and a collective company PER?
The company-sponsored group retirement savings plan (PER), created by the PACTE law, is the successor to the PERCO. The major difference lies in the payout options: the former PERCO prioritized annuities, while the new group PER now allows for withdrawals as a lump sum, an annuity, or a combination of both. Existing PERCOs can be transferred to the new system. The advantages—employee contribution exempt from income tax, funding through employee savings plans—are maintained and enhanced.
How is the withdrawal from the collective PER imposed?
The portion of your savings from employee savings plans and employer matching contributions is exempt from income tax; only social security contributions apply to the gains. However, the voluntary contributions you have deducted are subject to the rules of the individual retirement savings plan (PER): they are included in your income tax return, and the corresponding gains are taxed at a flat rate. This distinction is crucial when deciding when to withdraw your funds.
How much can I contribute to a group retirement savings plan?
The group retirement savings plan (PER collectif) is funded by your profit-sharing bonuses, employee shareholding bonuses, unused vacation days held in a time savings account, employer matching contributions, and voluntary contributions. Directing profit-sharing and employee shareholding bonuses to the plan, rather than receiving them directly, allows you to avoid income tax on these amounts while still benefiting from employer matching contributions.
Should you take out your savings as a lump sum or as an annuity at retirement?
There is no one-size-fits-all answer. A lump-sum payout offers liquidity and flexibility for inheritance planning; an annuity guarantees a lifetime income but generally ceases upon death. The best option depends on your other retirement income, your liquidity needs, your life expectancy, and your estate planning goals. This is a decision that should be made with expert advice beforehand, never in haste.
What is the difference between Balmont Conseil and a bank advisor?
Balmont Conseil is a consulting firm, a member of ANACOFI, with no financial ties to any bank. We analyze your company's retirement savings plan and integrate it objectively into your overall retirement strategy. A bank advisor focuses on the products within their network; we focus on overall optimization—targeting bonuses, maximizing employer contributions, and optimizing withdrawal options—all in your best interest.
Results are provided for illustrative and educational purposes only, based on the parameters entered and simplified assumptions (2026 tax year, constant return, excluding inflation). They do not constitute personalized investment advice, tax advice, or an offer to subscribe. Some investments carry a risk of capital loss. Before making any decision, consult an advisor.
