Best PER (Retirement Savings Plans) 2026 : Independent comparison

How to choose your PER in 2026: practical advice

The PER (Plan Epargne Retraite) has become an essential retirement planning tool since the Pacte law of 2019. With the multitude of plans available, here are the key steps to make a choice suited to your personal situation and retirement goals.

Determining your profile and horizon

Before comparing PER plans, it is essential to define your profile. The investment horizon is the key factor: if you are 30, your horizon is 35 years before retirement, allowing you to invest heavily in unit-linked funds (equity ETFs, SCPI) to target higher returns. If you are 55, a 10-year horizon calls for gradually securing your savings in the euro fund. Most PERs offer managed allocation with automatic progressive de-risking that reduces the unit-linked share as retirement approaches. This is a relevant option if you prefer not to manage your allocation yourself.

Understanding PER taxation

The PER's major advantage is the upfront tax deduction. Every euro contributed to your PER is deductible from taxable income, within your annual ceiling. Concretely, if your marginal tax bracket is 30 % and you contribute 5,000 euros, you save 1,500 euros in taxes. At 41 %, the saving rises to 2,050 euros. At 45 %, it reaches 2,250 euros. However, this deduction is not a permanent gift. Upon withdrawal (lump sum or annuity), deducted contributions will be subject to income tax. The real advantage lies in the timing: you deduct at your active (higher) bracket and will be taxed at retirement at a generally lower bracket. Moreover, savings grow for years without intermediate taxation. It is also possible to forgo the upfront deduction: in this case, only capital gains are taxed upon withdrawal (at the 30 % flat tax), and contributions are exempt. This option suits taxpayers in low brackets (11 %) or who are non-taxable.

Individual PER vs company PER

The PER comes in three compartments. The individual PER (PERin) is the one you open yourself with an insurer or financial institution -- this is what we compare in this ranking. The company collective PER (PERECO) replaces the former PERCO and receives employee savings (profit-sharing, employer matching). The mandatory company PER (PERO) replaces the former Article 83 and receives mandatory employer contributions. All three compartments can be grouped into a single PER or kept separate. The advantage of the PERin is that you freely choose your plan, funds, and fee structure -- unlike the company PER where the offering is imposed by the employer, often with higher fees and a more limited fund selection. If your company PER has excessive fees, you can transfer savings to your PERin (with possible transfer fees capped at 1 % in the first 5 years, then free).

Early withdrawal for primary residence purchase

The Pacte law introduced a specific early withdrawal case for the PER: purchasing your primary residence. This option did not exist with the former PERP and Madelin plans. Concretely, you can recover all or part of your PER savings (excluding mandatory employer contributions) to finance the purchase of your primary residence, whether new-build, existing property, or construction. This is a strong argument for young professionals hesitating between PER and life insurance: the PER offers both the tax deduction AND the possibility of unlocking for a property purchase. However, beware of the withdrawal taxation: deducted contributions will be subject to income tax and capital gains to the flat tax.

The 70,000 euro guarantee per insurer

As with life insurance, the French Insurance Guarantee Fund (FGAP) protects savers in case of insurer default, up to 70,000 euros per insured person per company. This ceiling applies to all contracts held with the same insurer (life insurance + PER + capitalization contracts). If your total savings exceed this threshold with a single insurer, diversifying across multiple insurers is recommended. For example, you could combine a PER with Spirica (via Linxea Spirit PER) and a life insurance with BNP Paribas Cardif (via Lucya Cardif) to stay under the guarantee ceiling with each insurer.