If you work for a French company, you may have access to one or several of these plans without ever having asked. They are among the few savings schemes where your employer puts money in alongside yours. This guide explains how the plans differ, what to do with your bonuses, how the employer top-up works, and what the tax really costs.
PEE / PEI versus company PER
The PEE (plan d’épargne entreprise) is for medium to long-term projects (five years or more); the PER is for retirement. A PEI (plan d’épargne interentreprises) is the multi-employer version of the PEE, often used by smaller companies. For you as an employee, the rules are the same.
Company PER comes in two types, created by the 2019 Pacte law:
- PERCOL (collective PER, formerly PERCO / PERECO): voluntary, and the one that receives your bonuses and employer top-ups.
- PERO (compulsory PER, formerly “article 83”): membership is mandatory for the employees covered, and it is funded by compulsory contributions. You can place your intéressement and participation in it, but the employer top-up (abondement) cannot be paid into it. New article 83 contracts have been closed since 1 October 2020.
| PEE / PEI | PERCOL | PERO | |
|---|---|---|---|
| Goal | Medium to long-term projects | Retirement | Compulsory employer retirement scheme |
| Joining | Voluntary | Voluntary | Mandatory for covered staff |
| Lock-up | 5 years minimum, then as long as you wish; early release in listed cases | Until retirement, early release in specific cases (e.g. buying a main home) | Until retirement |
| Fed by | Voluntary payments, intéressement, participation, PPV, abondement | Same, plus transfers | Compulsory contributions from employer (sometimes employee); you can also place intéressement and participation, but no abondement |
| Top-up ceiling 2026 | €3,844.80 (8% of PASS) | €7,689.60 (16% of PASS) | None: no abondement can be paid in |
| Paid out as | Capital | Capital or annuity | Generally annuity |
For a closer look at each plan, see our guides to the PEE and the mandatory employer PER.
What to do with your intéressement, participation and PPV
Taken as cash, these sums are taxable income. Placed in a PEE, PEI or PERCOL, they are exempt from income tax, within the ceilings. The choice is yours, and the deadline to ask for placement is short, usually 15 days after notification.
- Intéressement: a bonus linked to company performance, set by a voluntary company agreement.
- Statutory participation (participation): your share of profits. It is compulsory in profitable companies with 50 or more employees, and optional below that.
- Value-sharing bonus (prime de partage de la valeur, or PPV): an optional employer bonus, exempt from social contributions up to €3,000 a year, or €6,000 with an intéressement or participation agreement.
- Voluntary payments: your own money, limited to 25% of your gross annual salary in a PEE. They are not deductible, but they can trigger the employer top-up (check with your employer).
The PPV has a special 2026 regime. In companies under 50 employees, for staff paid under 3 times the minimum wage (SMIC), it is also free of CSG/CRDS and income tax. Elsewhere it bears both, unless you place it in a plan, which removes the income tax. The 2027 budget bill, not yet voted in October 2026, would end the income-tax exemption for small-company PPV paid in cash.
Why the employer top-up beats your own money
When your employer matches your payment, you earn an immediate return that no market investment can promise. Capture the full match before putting money anywhere else.
The abondement can be paid into a PEE, PEI or PERCOL, but not into a PERO. It can be up to 300% of what you pay in, within two limits:
- €3,844.80 a year on a PEE or PEI (8% of PASS), or €7,689.60 on a PERCOL (16% of PASS).
- Both plans can be combined, for up to €11,534.40 of top-up in 2026.
For example, paying €1,281.60 into a PEE with a 300% match brings €3,844.80 from your employer, so €5,126.40 lands in the plan. With a 100% match, €1,000 becomes €2,000 before fees and market moves.
Three caveats. The match is set by your company agreement and may be lower or absent. The money is locked like the rest of the plan. And it is invested in funds that can lose value, so check their fees.
Tax: about 10% on the way in
Intéressement, participation and employer top-ups placed in a plan bear only CSG/CRDS, at 9.7% (9.2% CSG plus 0.5% CRDS). There is no income tax and no social security contribution on the way in, which an ordinary salary euro does not enjoy. On €1,000 placed, about €97 goes to CSG/CRDS and about €903 is invested. The employer’s own levy, the forfait social, is paid by the company and is lower or zero in smaller firms.
The 10% is not the whole cost. On the way out, the capital is exempt from income tax after the lock-up, but the gains bear social levies of 18.6% since 1 January 2026, up from 17.2%. On €2,000 of gains, that is €372.
| Stage | Income tax | Social charges |
|---|---|---|
| Payment in (intéressement, participation, top-up) | Exempt | CSG/CRDS 9.7% |
| Own voluntary payment | Not deductible | None |
| Payout after lock-up | Exempt on capital and gains | 18.6% on gains |
2026 ceilings per employee
| Item | Ceiling | Basis |
|---|---|---|
| Intéressement | €36,045 a year | 75% of PASS |
| Participation | €36,045 a year | 75% of PASS |
| Top-up in a PEE / PEI | €3,844.80 a year | 8% of PASS, max 3 times your payment |
| Top-up in a PERCOL | €7,689.60 a year | 16% of PASS, max 3 times your payment |
| Voluntary payments in a PEE | 25% of gross annual salary | Salary-based |
| PPV exempt from social contributions | €3,000, or €6,000 | With an intéressement or participation agreement |
Practical checklist
- Ask HR which plans exist (PEE, PEI, PERCOL, PERO) and request the plan rules and the profit-sharing agreement.
- Find the match formula and its ceiling, then pay in enough to capture all of it before investing elsewhere.
- Decide within the deadline whether to take intéressement, participation and PPV as cash or place them in a plan.
- Choose the plan by horizon: PEE for medium to long-term projects (5 years or more), PERCOL for retirement.
- Read the fund menu and fees, because the investment risk is yours.
- Learn the early-release cases. The request generally has to be made within 6 months of the event.
- If you leave the company, decide whether to keep the plan or transfer it.
This is general information, not personalised advice. Rules and ceilings change every year. Our guide to whether the PER is worth it helps you weigh the retirement side.
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Book a callFrequently asked questions
What is the difference between a PEE and a company PER?
A PEE (or its multi-employer version, the PEI) is for medium to long-term projects: the money is locked for 5 years, with early release in listed cases, but you can keep it for as long as you wish beyond 5 years, and it is paid out as capital. A company PER (PERCOL or PERO) is for retirement: the money is locked until retirement, with early release in specific cases such as buying a main home, and it is paid out as capital or annuity (generally an annuity for the compulsory PERO).
How much can my employer add to my payments?
Up to 300% of what you pay in, within a yearly ceiling of €3,844.80 on a PEE or PEI (8% of the social security ceiling, PASS) and €7,689.60 on a PERCOL (16% of PASS) in 2026. Both can be combined, for up to €11,534.40. The exact match is set by your company agreement and may be lower or absent.
Is money paid into a PEE or a PERCOL taxed?
Intéressement, participation and employer top-ups placed in a plan bear only CSG/CRDS at 9.7%, with no income tax. Your own voluntary payments are not deductible. After the lock-up, the capital is exempt from income tax, and the gains bear social levies of 18.6% since 1 January 2026.
Should I take my intéressement as cash or place it in a plan?
Taken as cash, intéressement, participation and PPV are taxable income. Placed in a PEE, PEI or PERCOL, they are exempt from income tax within the ceilings, at the price of the lock-up. The choice is yours, and the deadline to ask for placement is usually 15 days after notification.
Sources
- Opco Direct, prime de partage de la valeur 2026-2027 (opened 22 October 2026)
- Groupama Épargne Salariale, plafonds 2026
- Que Choisir, hausse de la CSG 2026
- Banque Transatlantique, LFSS 2026 et prélèvements sociaux
- Code du travail numérique, fiche PEE
- AG2R La Mondiale, article 83 et PERO