Le Produit d'Epargne Retraite Populaire (PERP) : caractéristiques des détenteurs et projection des niveaux de rentes
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.
|Date of creation:||Feb 2009|
|Note:||View the original document on HAL open archive server: https://halshs.archives-ouvertes.fr/halshs-00566160|
|Contact details of provider:|| Web page: https://hal.archives-ouvertes.fr/|
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)
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.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with 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 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.