The taxation of employee savings is not limited to the income tax exemption at entry. The exit rules, the nature of the compartment (PEE or collective PER), and the source of the funds create significant tax discrepancies that we detail here.
CSG at 10.6% in 2026: concrete impact on employee savings gains
The finance law and the social security financing law for 2026 have raised the CSG rate on income from wealth and savings. The standard rate rises to 10.6% for employee savings and retirement income. This targeted increase adds to the overall burden on capital gains realized upon exiting PEE and collective PERs.
Further reading : Planning Your Ceremony: Everything You Need to Know About the Timing of a Town Hall Wedding
In practical terms, an employee who unlocks their company savings plan after five years sees their gains subjected to heavier social contributions than before. The capital from profit-sharing or incentive schemes remains exempt from income tax, but the portion of capital gains is now subject to this increased CSG.
The taxation of employee savings therefore depends as much on the timing of the exit as on the nature of the amounts paid in. We recommend systematically distinguishing between capital (often exempt) and gains (always subject to social contributions, now increased).
Further reading : Everything You Need to Know About the AMG Package for Your Mercedes-Benz
Capital withdrawal from the collective PER: taxation based on the source of funds
The collective company PER (PERCOL) applies a differentiated taxation based on the source compartment. Failing to correctly identify the source of funds at the time of unlocking can lead to an unpleasant surprise on the tax notice.
Funds from employee savings (incentives, profit-sharing, contributions)
Upon capital withdrawal, these amounts benefit from an exemption from income tax. The gains generated by the investment are subject to social contributions at the applicable rate. No taxation on the capital itself.
Funds from deducted voluntary contributions
The treatment differs radically. The capital is reintegrated into taxable income in the year of withdrawal, and capital gains are subject to the flat tax (PFU). An employee who deducted their contributions upon entry recovers the tax advantage in the form of deferred taxation upon exit.
Non-deducted voluntary contributions
The capital is withdrawn exempt from income tax, only the capital gains are subject to the PFU. This compartment is often overlooked even though it offers a very favorable capital withdrawal framework for early unlocking, particularly for purchasing a primary residence.
Unlocking for primary residence: the tax traps of PERCOL
The early unlocking of the collective PER for the purchase of a primary residence is a common use case. The applicable taxation directly depends on the source of the unlocked funds:
- Amounts from employee savings (incentives, profit-sharing): the capital is exempt from income tax and social contributions, only the gains bear the social contributions at the applicable rate
- Amounts from deducted voluntary contributions: the capital is subject to income tax, and the capital gains to the PFU, which can generate a heavy tax burden in the year of purchase
- Amounts from non-deducted voluntary contributions: the capital is withdrawn tax-free, only the capital gains are taxed
We observe that many employees unlock their PERCOL without checking the breakdown between compartments. A poorly calibrated unlocking can trigger a tax spike in the year of acquisition. It is essential to request a detailed statement by compartment from the manager before any buyback request.
Deductibility of PER contributions after 70 and carryover for five years
The 2026 reform introduced two changes that alter end-of-career strategy. Voluntary contributions made to a PER (individual or collective) after age 70 are no longer deductible from income tax. For a manager or senior executive extending their activity, the tax advantage of the deductible contribution disappears after this age.
In return, unused deduction ceilings can now be carried over for five years instead of three. This extension allows for the absorption of blank years (leave, part-time work) without losing the deduction capacity. An employee who has not contributed for two years has five periods to catch up on their ceiling.
This combination encourages focusing on deductible contributions before age 70, then switching to non-deductible contributions if one wishes to continue funding the plan. The tax treatment upon exit is modified: non-deducted compartments offer exempt capital, while deducted compartments remain taxable.
Withdrawal in annuity: exemption scale and capital/annuity arbitration
The withdrawal in annuity from the collective PER follows a distinct tax regime. The taxable portion of the annuity depends on the beneficiary’s age at the time of liquidation. The later the annuity is liquidated, the higher the exemption.
For amounts from deducted voluntary contributions, the annuity is taxed at the income tax scale after applying the age exemption. For amounts from employee savings, the annuity benefits from the regime of paid life annuities, with an exemption that reduces the taxable base.
- Capital/annuity arbitration: capital withdrawal allows for controlling taxation in one fiscal year, while the annuity smooths the tax burden but remains taxable each year
- Impact of the 2026 CSG: the annuity is subject to social contributions at the new rate, which reduces the net return compared to previous projections
- Reversibility: in the event of death, the tax treatment of the reversible annuity differs from that of the residual capital, a parameter to consider in the choice
The arbitration between capital and annuity is not limited to a marginal rate calculation. It incorporates estimated life expectancy, the need for immediate liquidity, and the composition of the plan’s compartments. A PER primarily funded by employee savings often favors capital withdrawal, given the income tax exemption applicable to this portion.