The implementation of a “future climate savings plan” (PEAC) is planned for July 1, according to a decree published this Sunday in the Official Journal.
Open to those under 21, the latter must be used to finance low-carbon projects within the framework of the green industry law.
Follow the full coverage
Environmental initiatives
Reindustrialize France while promoting decarbonization. This is the objective of the green industry law, adopted in October 2023, which the executive intends to finance through private savings (retirement savings, life insurance). It is within this framework that the launch of a new product intended for the youngest, the “future climate savings plan” (PEAC).
Its implementation will take place on July 1, according to a series of three decrees published this Sunday in the Official Journal, but how will it work?
Who is he talking to ?
The PEAC is open to those under 21 and must be used to finance low-carbon projects within the framework of the green industry law. “Only one plan per natural person can be opened”, is it specified in particular in one of the decrees published this Sunday. The savings set aside by parents for their children will be blocked for a minimum of 5 years and until they reach the age of majority, an essential mechanism for “finance much longer-term projects needed for the ecological transition”, Bercy was indicated at the time.
-
Read also
Responsible investment: a booming market, but really green?
In other words, provided that their PEAC was opened before the age of 13, a young person will therefore be able to recover their savings when they turn 18. Please note that he can do this completely or partially, in which case he will no longer be able to make new payments from the first withdrawal. The PEAC will be automatically closed on the thirtieth birthday of its holder.
What rate of pay?
“The amount of payments into the future climate savings plan has been limited to 22,950 euros since the plan was opened,” it is further clarified. In May 2023, the Minister of Economy and Finance, Bruno Le Maire, affirmed that the remuneration of this new product would be “higher” than that of the Livret A, the rate of which is currently 3%. He will benefit from guaranteed capital and “exceptional tax conditions: zero tax and zero contributions”, Bercy added last month.
Distributed by traditional life insurance players (insurers, bankers, etc.), its return will depend on their investment strategies. Last year, the executive indicated for its part that it expected a billion euros in annual collection.to its full potential” for the green industry.
