Life insurance and Perp, popular retirement savings plan, are two long-term financial investment that helps to build capital for retirement. One Both are framed by law, each with its specificities and constraints. If one qualifies for tax benefits, the other has a greater flexibility which makes him win the match comparison.
Perp, popular retirement savings plan
Established in 2004 to encourage investors to build up a pension supplement, the Perp st an investment product and a device for tax exemption. It is like a life insurance policy into an annuity with output required at the time of retirement. It exists in three forms:
- The contract in euros or multichannel capitalized with payments on euro fund or unit-holders, at the time of retirement, capital is converted into an annuity.
- The contract denominated in points where each payment is converted into points with acquisition value that evolves over time.
- The contract with deferred life annuity, the minimum pension is guaranteed to each payment and therefore known as accession.
Even if addressed at all, the perp is not for everyone. The tax benefit (contributions tax deductible to the extent of 10% RI 10% after deduction of business expenses and the maximum of 8 times the ceiling for Social Security or € 35 352 in 2011) mainly benefits taxpayers heavily taxed: the more you contribute, the more tax savings is substantial. As savings are blocked until retirement (with exceptions: liquidation and disability), there is no way to recover some of the money invested in the event of a setback or project cost (investment in real estate example).
We have seen, the peculiarity of the perp is the output only as an annuity. The Finance Act 2011 has, however, somewhat relaxed this requirement by allowing an outflow of capital now at 20% of the value of the plan. Taxation to submit the output to the pension income tax on pensions after a reduction (10% and 20%).
The major drawback is its rigidity, the Perp is recommended for taxpayers with high marginal tax rates that may put the economy allowed for it to be valued. However, the perverse effect is played at the time of retirement during the savings phase, the subscriber gets a tax deduction that is all the more interesting it is heavily taxed. When the rent goes up, the state withdrew the tax benefit to this rent. Better to have decline in the scale of tax rates, as is often the case at the time of retirement with falling incomes.
Reversion can freely designate the beneficiary no later than the time of the conversion of savings into an annuity. If the pensioner dies, the beneficiary receives the annuity in reversion rate chosen (60% or 100%).
Life Insurance
Unlike the perp, the life insurance policy provides flexibility to your savings: liquidity is total, you have your money all the time and can make out freely. The interest is to keep saving at least 8 years to benefit from the tax rate lower (flat rate or discharge of 7.5% income tax at the marginal rate of tax after deduction of 4 600 € for a single person and € 9,200 for a couple). The output can be in three forms: capital, total or partial, or annuity, or a combination of both. You can purchase as many contracts as you want and designate the beneficiary of your choice that is transmitted to the capital of your death. The output is more heavily taxed annuity and the taxable portion depends on the annuitant's age at the time of establishment of the annuity (30% for an annuitant age 70, 40% between 60 and 69, ... ).
Perp, popular retirement savings plan
Established in 2004 to encourage investors to build up a pension supplement, the Perp st an investment product and a device for tax exemption. It is like a life insurance policy into an annuity with output required at the time of retirement. It exists in three forms:
- The contract in euros or multichannel capitalized with payments on euro fund or unit-holders, at the time of retirement, capital is converted into an annuity.
- The contract denominated in points where each payment is converted into points with acquisition value that evolves over time.
- The contract with deferred life annuity, the minimum pension is guaranteed to each payment and therefore known as accession.
Even if addressed at all, the perp is not for everyone. The tax benefit (contributions tax deductible to the extent of 10% RI 10% after deduction of business expenses and the maximum of 8 times the ceiling for Social Security or € 35 352 in 2011) mainly benefits taxpayers heavily taxed: the more you contribute, the more tax savings is substantial. As savings are blocked until retirement (with exceptions: liquidation and disability), there is no way to recover some of the money invested in the event of a setback or project cost (investment in real estate example).
We have seen, the peculiarity of the perp is the output only as an annuity. The Finance Act 2011 has, however, somewhat relaxed this requirement by allowing an outflow of capital now at 20% of the value of the plan. Taxation to submit the output to the pension income tax on pensions after a reduction (10% and 20%).
The major drawback is its rigidity, the Perp is recommended for taxpayers with high marginal tax rates that may put the economy allowed for it to be valued. However, the perverse effect is played at the time of retirement during the savings phase, the subscriber gets a tax deduction that is all the more interesting it is heavily taxed. When the rent goes up, the state withdrew the tax benefit to this rent. Better to have decline in the scale of tax rates, as is often the case at the time of retirement with falling incomes.
Reversion can freely designate the beneficiary no later than the time of the conversion of savings into an annuity. If the pensioner dies, the beneficiary receives the annuity in reversion rate chosen (60% or 100%).
Life Insurance
Unlike the perp, the life insurance policy provides flexibility to your savings: liquidity is total, you have your money all the time and can make out freely. The interest is to keep saving at least 8 years to benefit from the tax rate lower (flat rate or discharge of 7.5% income tax at the marginal rate of tax after deduction of 4 600 € for a single person and € 9,200 for a couple). The output can be in three forms: capital, total or partial, or annuity, or a combination of both. You can purchase as many contracts as you want and designate the beneficiary of your choice that is transmitted to the capital of your death. The output is more heavily taxed annuity and the taxable portion depends on the annuitant's age at the time of establishment of the annuity (30% for an annuitant age 70, 40% between 60 and 69, ... ).
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