France: Saving pension reform – the new retirement products may be available as of 1 October 2019

The reform of retirement savings was finalised this summer with the publication of several regulations. The launch date for the new retirement savings products is 1 October 2019. The new version of the “chapeau” regimes can be adopted since 5 July 2019! Since that date, old “chapeau” schemes can no longer be implemented. In addition, existing plans will, with rare exceptions, have to be modified so that they can continue to operate after 1 January 2020. This is the time to take stock of the various measures implemented within your company.

The devices known as Article 83 and the Perco will no longer be in place as from 1 October 2020. The legislator has allowed bridges, such as the transfer of commitments to new devices or the transformation of an existing product into a new instrument. A coexistence of old and new devices is even possible. It is therefore important to audit the various retirement savings products and to think now about the instruments that the employer wants to keep, modify or close.