Company Savings plan - PEE

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PEE

The Company Savings plan is a short/medium-term collective savings scheme set up by a company on behalf of all its employees.

Employees are granted tax and social security exemptions in exchange for the amounts paid in being inaccessible.

Key information

Get a boost from your company

Which, at the very least, will pay your account administration fees1 and, depending on the agreements signed by your company, may also combine your payments with an employer contribution.

Benefit from flexible savings

The amounts paid into a PEE become available after 5 years unless they are released early under specific circumstances permitted by law.

Take advantage of a favourable tax regime

The amounts allocated to a PEE are exempt from income tax and subject only to CSG (social security contributions) and CRDS (social debt repayment contributions)2.

How does it work?

You may benefit from a PEE scheme if one has been set up by your employer.

Your PEE may be topped up with:

  • your voluntary payments;
  •  your profit-sharing bonus;
  • your incentive bonus;
  • the employer’s contribution (an optional additional amount paid by the company) or, under certain conditions, amounts paid in by the company unilaterally;
  • entitlements transferred from your Time Savings Account (TSA), if so allowed under the scheme governing the TSA;
  • amounts transferred from other employee and retirement savings plans (except for PERCO and PERECO plans3).

Amounts paid into the PEE become available in the form of a lump-sum payment:

  • after 5 years;
  • if released early under circumstances permitted by the regulations in the form of a lump sum.

The total amount of voluntary payments made over the course of a calendar year, all plans combined (except for a PERECO), must not exceed 25% of the annual gross compensation received by the employee during the year in which payments are made.

In the case of employees whose employment contracts have been suspended and who have received no compensation over the year in which payments are made, the cap on payments is set at 25% of the Plafond Annuel de la Sécurité Sociale (PASS, or annual social security ceiling), i.e. €10,998 in 2023.

How are your savings invested?


Your company offers various investment vehicles covering different investment objectives, different asset classes, regions, business sectors and risk levels.  Note that investment vehicles entail a risk of loss of capital.
These investment vehicles (and the associated documentation) can be found in the rules governing the relevant employee or retirement savings plan(s) offered by your company.

In principle, you may modify the way in which your savings are distributed at any time in order to optimise your savings, without prolonging the period of unavailability; this is referred to as fund switching. However, the rules governing your PEE may include restrictions on this ability to modify your initial investment choice. We therefore advise you to read them beforehand.

 What happens to your savings if you change company?


You may keep your savings in your PEE and, if you are retired or in early retirement, continue to make payments into it after you leave the company provided you did not withdraw all your savings at the time your employment contract was terminated.

On your departure, you will have to begin paying the account administration fees inherent in the scheme that were previously paid by your former employer (see the pricing terms provided by your former employer’s account-keeper).

 What is the tax regime applicable to this scheme?


Your scheme offers the following tax benefits:

  • The employer’s contribution is exempt from income tax and subject only to CSG (social security contributions) and CRDS (social debt repayment contributions)2.
  • Profit-sharing and incentive bonuses are exempt from income tax and subject only to CSG and CRDS2.
  • Entitlements transferred from the TSA are exempt from income tax and subject only to CSG and CRDS2.
  • Any capital gains and income generated from your savings are exempt from capital gains tax on transferable securities and subject only to social contributions4.

Summary in video format

PEI (Plan d'Epargne Interentreprise, or intercompany savings plan)

1 The company pays the account administration fees of its Current and Retired employees (as per the PEE agreement) over the year. The employee begins to pay these administration fees from the moment they leave the company.
2 At a rate of 9.7%, of which 6.8% tax-deductible CSG, at 01/01/2023; contributions deducted by your employer.
3 Plan d'Epargne pour la Retraite COllectif (PERCO, or collective retirement savings plan) / Interentreprises (PERCOI, or intercompany collective retirement savings plan); Plan d'Epargne Retraite d'Entreprise COllectif (PERECO, or collective company retirement savings plan) / Interentreprises (PERECOI, or intercompany collective retirement savings plan)
4 At a rate of 17.2% at 01/01/2023.