Barthélémy Philippe // Photo credit: Thibaut Durand / Hans Lucas / Hans Lucas via AFP
06:37, June 30, 2024modified to
07:53, June 30, 2024
From this Monday, July 1, a new savings product will be available in your banks. This is the Future Climate Savings Plan, the PEAC, created by the green industry law, which came into force last year. The objective is to encourage financing of the ecological transition. But what is special about this new savings product?
A new savings product is arriving in our banks from this Monday, July 1st: the Plan Épargne Avenir Climat (PEAC). A savings product aimed at young people, since its opening is reserved for those under 21. The PEAC can be subscribed by parents from the birth of their child.
The PEAC is subject to a ceiling of 23,000 euros
Of course, the funds are blocked until the holder reaches the age of majority. The latter is required to close his account at the latest at the age of 30. The PEAC is subject to a ceiling of 23,000 euros, as for the Livret A. “But the comparison stops there”, explains Maxime Chipoy, president of Moneyvox. “Unlike the Livret A, where you can put in and withdraw money at any time, the money you deposit, you will not be able to withdraw before the end of the PEAC”.
On the yield side, the PEAC works a bit like life insurance, with rates that vary depending on the banks. “The PEAC is in fact an envelope, in which you will choose SRI funds, dedicated to sustainable development. The performances will be different depending on the funds you have chosen within your PEAC,” reports Maxime Chipoy.
It remains to be seen whether the PEAC will find its audience, among the many savings products that allow you to invest for the climate. The government has set the target of collecting one billion euros in 2027.
