A little over six months after making Lucya CNP the reference for low-cost assurance-vie, CNP Assurances has done it again on retirement: the Plan d'Épargne Retraite (PER) — France's individual retirement savings account — from Lucya CNP launched on 29 September 2026, on the same fee model, this time underwritten by its subsidiary CNP Retraite. On paper, it's the retirement-wrapper counterpart of the assurance-vie contract — same fees, same logic.
This article was updated on 29 September 2026 with the official contract features communicated by Lucya at launch, then on 2 October 2026 to align the fund-range figures (mutual funds, ETFs, directly-held securities) with a precise count performed on the contract's official search tool, identical to that of the Lucya CNP assurance-vie contract; these figures evolve as the contract is updated regularly. See the official product page on lucya.com.
The features of the Lucya CNP PER
The Lucya CNP PER mirrors the fee structure of the Lucya CNP assurance-vie contract, the reference on the French market on this criterion:
Official fee schedule of the Lucya CNP PER, underwritten by CNP Retraite (a subsidiary of CNP Assurances) and distributed by Lucya — identical to that of the Lucya CNP assurance-vie contract.
On fees alone, a PER charging 0.30% in self-directed management fees sits well below the market average — traditional bank PER accounts most often charge between 0.8% and 1.5% a year in management fees, sometimes on top of 2 to 3% entry fees. Our general review of the PER details the impact of these fees over 20 to 30 years, and our comparison of the best PER accounts in 2026 places it against Linxea Spirit PER and Lucya Cardif PER.
Another strength: the Lucya CNP PER gives access to a range of more than 1,200 funds, identical to that of the Lucya CNP assurance-vie contract since both contracts run on the same self-directed-management platform — around 543 mutual funds, 120 low-cost ETFs (including the SPDR S&P 500 at a 0.03% ongoing charge, with no transaction fees), more than 320 directly-held securities, and 17 real-estate/unlisted funds (SCPI, SCI, private equity). The contract also offers a dedicated euro fund, the CNP Lucya PER Euros B, charging 0.80% in annual management fees and delivering a 2.60% net return in 2025, with a permanent capital guarantee (net of the contract's own management fees). The minimum initial contribution is €500. For an investor who already favours self-directed, ETF-based management on their Lucya CNP assurance-vie contract, the same logic transfers directly to the retirement wrapper.
Why the level of fees changes everything on a PER
An individual PER is a product opened and locked until retirement — taken out early in your working life, it can stay invested for potentially more than 40 years. This is precisely what makes the level of recurring fees (annual management fees) so decisive on this wrapper, even more so than on a standard assurance-vie contract: over such a long horizon, even a small gap compounds and ends up weighing heavily on the final capital.
| Annual management fees | Final capital |
|---|---|
| 0.30% (Lucya CNP PER) | ≈ €400,000 |
| 1% (typical online PER) | ≈ €339,000 |
| 1.5% (traditional bank PER) | ≈ €301,000 |
In this example, the gap between a PER charging 0.30% and a bank PER charging 1.5% represents roughly €99,000 over 25 years — nearly half the starting capital. This is the kind of gap that widens all the more the longer the money stays locked, which is the norm on a PER.
Assumption: a single contribution of €100,000, a 6% gross annualised return, fees applied annually on the balance, excluding tax at withdrawal. For more on how a PER works in general — deductibility, lock-in, exit taxation — see our article « Is the PER really worth it? ».
Transferring a PER to Lucya CNP: what to know
An individual PER (PER in) transfers without particular difficulty to a new insurer — portability is a legal feature of the product, contrary to a still-common misconception. Transfer fees are capped (free after 5 years of holding, a maximum of 1% of the balance before that point) and the process is handled by the receiving insurer.
A point of caution on timing: if your current PER includes a portion invested in a euro fund, avoid requesting a transfer in the 4th quarter. The euro fund's profit-sharing (its net annual return) is generally credited at the end of the financial year, conditional on still being invested in that fund at that date — a transfer before 31 December could therefore cost you the whole year's benefit on that portion. If your PER is invested 100% in unit-linked funds, this constraint doesn't apply and the transfer can happen at any time. If in doubt, it's best to wait until January to start the process.
Frequently asked questions
When was the Lucya CNP PER launched?
CNP Assurances announced the launch of the Lucya CNP PER on 29 September 2026, through its subsidiary CNP Retraite. The contract is now marketed by Lucya, mirroring the fee schedule of their reference assurance-vie contract.
What are the fees on the Lucya CNP PER?
0.30% annual management fees in self-directed management on unit-linked funds, 0% entry fees on contributions and 0% fees on fund switches. The dedicated euro fund, CNP Lucya PER Euros B, charges 0.80% in management fees and delivered a 2.60% net return in 2025, with a permanent capital guarantee (net of the contract's own management fees).
What range of funds does the Lucya CNP PER offer?
More than 1,200 funds, the same range as the Lucya CNP assurance-vie contract: around 543 mutual funds, 120 ETFs (including the SPDR S&P 500 at a 0.03% ongoing charge, with no transaction fees), more than 320 directly-held securities, and 17 real-estate/unlisted funds (SCPI, SCI, private equity). The minimum initial contribution is €500.
Can I easily transfer an individual PER?
Yes, an individual PER (PER in) transfers without particular difficulty to another insurer, portability being a legal feature of the product. One point of caution: if your current PER includes a euro-fund component, avoid transferring at the end of the year (fourth quarter), as you risk losing the euro fund's annual profit-sharing, generally credited at the end of the financial year conditional on still being invested in it at that date. If your PER is invested 100% in unit-linked funds, this constraint doesn't apply and the transfer can happen at any time of the year.
Why do fees matter so much on a PER?
An individual PER is a product opened and locked until retirement, potentially for more than 40 years if taken out early in your working life, which strongly amplifies the impact of recurring annual management fees over time. On a contribution of €100,000 over 25 years at a 6% gross return, the gap between a PER charging 0.30% in fees and a traditional bank PER charging 1.5% represents roughly €99,000 of final capital — nearly half the starting amount.
Does the PER have a place in your strategy?
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