The future climate savings plan (PEAC), created by the law relating to green industry of October 23, 2023, will be officially available from October 1is July. This product intended for under 21s will help finance the energy transition. In practice, you will have to wait a little while the banks, insurance companies, mutual insurance companies and provident institutes finalize their offers. “Establishments will not rush because this new product is costly in terms of IT development for expected low volumes,” says Philippe Crevel, director of the Cercle de l’épargne. None of the banks contacted by The world is not preparing to launch an offer quickly. The BPCE group announces a launch, with a fully digitalized subscription process, in the first quarter of 2025.
The implementing texts published on June 16 specify the exact contours of the PEAC. It will be possible to pay into it up to 22,950 euros (an amount identical to the ceiling of the Livret A) and the earnings will be exempt from taxes and social security contributions. “The tax regime is favourable, but it is not enough to compensate for the many constraints,” notes Stéphane Fantuz, president of the National Chamber of Financial Heritage Expert Councils.
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Thus, the climate future savings plan is blocked until the holder reaches the age of 18 (except in the event of disability of the holder or death of one of his parents). It then becomes possible to make a redemption provided that the plan is more than five years old. Furthermore, it has a limited lifespan: it is automatically closed when the holder reaches the age of thirty.
Unlike the Livret A, the capital is not guaranteed. The Minister of the Economy, Bruno Le Maire, announced a “more attractive” performance than that of the Livret A, currently at 3%. Everything will depend on the asset allocation implemented by the manager in the context of managed management or by the client (or their parents if they are a minor) in the context of free management. The implementing texts specify that at least 70% of the assets must be invested in low-risk assets two years before the plan liquidation date indicated by the holder.
The objective is to avoid suffering a drop in the stock markets a few months before the release. It will be possible to transfer your plan to another establishment. In this case, the regulations cap PEAC transfer fees at 1% (no fees if the plan is more than five years old and the holder is an adult). You can only have one savings plan of this type per person. In practice, it will be opened by parents on behalf of their child if the child is a minor.
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