IDEAS home Printed from https://ideas.repec.org/p/hal/wpaper/halshs-00566160.html
   My bibliography  Save this paper

Le Produit d'Epargne Retraite Populaire (PERP) : caractéristiques des détenteurs et projection des niveaux de rentes

Author

Listed:
  • Alexis Direr

    () (UPMF - Université Pierre Mendès France - Grenoble 2)

  • Muriel Roger

    () (LEA - Laboratoire d'Economie Appliquée - INRA - Institut National de la Recherche Agronomique, PSE - Paris School of Economics)

Abstract

The French law called "Fillon Act", enacted on August 21st 2003, has created an individual saving contract called "PERP" (Plan d'Epargne Retraite) which objective is to supplement public pensions. It is a defined contribution scheme whith payments deductible from taxable income (up to 10% of the annual revenue). At retirement, benefits are paid in the form of annuities and taxed at a normal rate. We use a large dataset on saving behaviour of 9880 households in order to ascertain the profile by age, socio-economic status, levels of income, levels of wealth, and fiscal status of holders of at least one PERP. We show that this saving product has spread evenly in all socio-economic status and that the participation rate is most important for households whose head is 25-34 year old or 50-54 year old. We use simulated residuals to simulate continuous distribution of the PERP wealth and contributions, using bracket information available in our dataset. This allows us to project the future growth of assets in personal retirement plans until age 60 and to estimate the level of annuity that households will obtain after retirement. We find that most households are likely to benefit from a very small annuity, which is less than 1% of their last earning before the conversion of their plan.

Suggested Citation

  • Alexis Direr & Muriel Roger, 2009. "Le Produit d'Epargne Retraite Populaire (PERP) : caractéristiques des détenteurs et projection des niveaux de rentes," Working Papers halshs-00566160, HAL.
  • Handle: RePEc:hal:wpaper:halshs-00566160
    Note: View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00566160
    as

    Download full text from publisher

    File URL: https://halshs.archives-ouvertes.fr/halshs-00566160/document
    Download Restriction: no

    Other versions of this item:

    Citations

    Citations are extracted by the CitEc Project, subscribe to its RSS feed for this item.
    as


    Cited by:

    1. Najat El Mekkaoui de Freitas & Bérangère Legendre, 2014. "Constitution d’un revenu complémentaire de retraite : quels sont les facteurs déterminants?," Économie et Statistique, Programme National Persée, vol. 472(1), pages 153-167.
    2. Alexis DIRER & Rim ENNAJAR-SAYADI, 2016. "How Price Elastic is the Demand For Retirement Saving?," LEO Working Papers / DR LEO 2437, Orleans Economics Laboratory / Laboratoire d'Economie d'Orleans (LEO), University of Orleans.

    More about this item

    Keywords

    retirement saving; épargne retraite;

    Statistics

    Access and download statistics

    Corrections

    All material on this site has been provided by the respective publishers and authors. You can help correct errors and omissions. When requesting a correction, please mention this item's handle: RePEc:hal:wpaper:halshs-00566160. See general information about how to correct material in RePEc.

    For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (CCSD). General contact details of provider: https://hal.archives-ouvertes.fr/ .

    If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.

    We have no references for this item. You can help adding them by using this form .

    If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your RePEc Author Service profile, as there may be some citations waiting for confirmation.

    Please note that corrections may take a couple of weeks to filter through the various RePEc services.

    IDEAS is a RePEc service hosted by the Research Division of the Federal Reserve Bank of St. Louis . RePEc uses bibliographic data supplied by the respective publishers.