France PER Calculator: Plan d'Épargne Retraite Growth
Estimate what a French PER (plan d'épargne retraite) grows to from regular contributions — the retirement savings plan introduced in 2019 that lets you deduct contributions from taxable income now and draw the money as capital or income at retirement.
Adjust the inputs and select Calculate for a full breakdown.
Year-by-year growth schedule
Compare Common Scenarios
How the numbers shift across typical situations for this calculator:
| Scenario | Future value | Total contributions | Total interest earned |
|---|---|---|---|
| €300/mo · 4% · 25yr | $154,238.86 | $90,000.00 | $64,238.86 |
| €500/mo · 5% · 20yr | $205,516.83 | $120,000.00 | $85,516.83 |
| €10k + €200/mo · 4% · 30yr | $171,944.86 | $82,000.00 | $89,944.86 |
| €150/mo · 6% · 35yr | $213,706.54 | $63,000.00 | $150,706.54 |
How This Calculator Works
Enter your current PER balance, monthly contribution, the return you expect, and the years to retirement. The calculator compounds the balance monthly and shows the projected value and the growth. The PER's appeal is the upfront deduction: voluntary contributions reduce your taxable income (within a ceiling), the savings grow tax-deferred, and the money is locked until retirement (with a few exceptions, notably buying your main home).
The Formula
Future Value with Regular Contributions
P = starting amount, PMT = monthly contribution, r = monthly rate (annual ÷ 12), n = number of months
Worked Example
€300 a month for 25 years at 4% grows to about €154,239, with roughly €64,239 of that being growth. The PER (plan d'épargne retraite) replaced older French retirement products (PERP, Madelin) from 2019, unifying them into one flexible plan. Its headline benefit is tax: voluntary contributions are deductible from your taxable income up to an annual ceiling, so a high-rate taxpayer gets a substantial immediate saving. The trade-off is that funds are locked until retirement — though you can withdraw early to buy your primary residence, or in hardship cases — and the deducted contributions are taxed when you draw them.
Key Insight
The PER is the centrepiece of France's reformed retirement saving, and the deduction-now/taxed-later logic is key. The upfront benefit: voluntary contributions (versements volontaires) are deductible from your taxable income, up to an annual ceiling (broadly a percentage of professional income, between a floor and a cap, with unused allowance carryforward), so the real value depends on your marginal tax rate — a 41% taxpayer effectively gets the state to fund a large part of the contribution, while a low-rate taxpayer benefits less and might instead opt out of the deduction for lighter taxation at exit. The plan grows tax-deferred and you choose the investment mix: a capital-guaranteed fonds en euros and/or market-linked unités de compte, often via a managed 'gestion pilotée' glide path that de-risks as retirement nears. At retirement you have flexibility the old products lacked: you can take the PER as a lump sum (capital), as a lifetime annuity (rente), or a mix. The catch — and what this calculator omits — is exit taxation: if you deducted contributions going in, then at withdrawal the contributions portion is taxed as income and the gains are taxed too (the precise treatment differs for lump sum vs annuity); if you opted not to deduct, the exit tax is lighter. Liquidity is restricted: the money is locked until retirement, with defined early-exit cases — most notably purchasing your primary residence, plus hardship events (disability, death of spouse, end of unemployment rights, over-indebtedness). Fees vary widely and compound over decades, so low-cost contracts matter. This calculator gives a gross, constant-return projection and omits the contribution ceiling, fees and exit tax; in practice deduct contributions if your rate is high, mind the annual ceiling, favour low-cost investments, and plan the lump-sum/annuity split for tax efficiency at retirement.
Frequently Asked Questions
How is PER growth calculated?
Your balance and monthly contributions compound at the expected return (annual rate ÷ 12 per month). €300/month for 25 years at 4% grows to about €154,239, with roughly €64,239 of growth — before fees, and before the tax due when you draw the PER at retirement.
What is a PER?
The plan d'épargne retraite — France's unified retirement savings plan introduced in 2019, replacing older products like the PERP and Madelin. Voluntary contributions are deductible from taxable income up to a ceiling, the savings grow tax-deferred, and you draw them as capital, an annuity, or both at retirement.
What's the tax benefit of a PER?
Voluntary contributions are deductible from your taxable income up to an annual ceiling, so the saving depends on your marginal rate — most valuable for high earners. The catch is that deducted contributions are taxed as income when you withdraw at retirement, so it's a deduction-now, taxed-later arrangement.
When can I access a PER?
Generally only at retirement — the funds are locked until then. The main exceptions are buying your primary residence (you can withdraw early for that) and hardship cases such as disability, death of a spouse, end of unemployment rights, or over-indebtedness. Otherwise treat the PER as retirement money.
How is a PER different from an assurance vie?
A PER offers an upfront contribution deduction but locks the money until retirement and taxes it on the way out; an assurance vie gives no deduction but stays accessible and is very tax-efficient on gains after eight years, with inheritance advantages. Many French savers use both, for different goals.
Related Calculators
Methodology & Review
The future value compounds a starting balance plus a fixed monthly contribution at the annual return, compounded monthly. It assumes a constant return and end-of-month deposits, and does not enforce the annual deductible-contribution ceiling, model fees, or compute the tax due when the PER is drawn at retirement.
Written by Ugo Candido · Last updated May 22, 2026.