Holders of a life insurance contract for more than 8 years can transfer their assets to a pension savings account (PER) to benefit from an increased tax deduction. As a result of the Pacte Act of 2019, this advantageous scheme ends on 31 December.
For 3 years and until the end of December, the redemption of amounts invested in a life insurance contract to finance a pension savings (PER) entitles you to a deduction in the realized capital gains (art. 125-0 A of the General Tax Act). The tax deduction for life insurance is then doubled. A single customer can thus realize up to €9,200 in capital gains without being taxed (€4,600 in life insurance) and up to €18,400 for a couple (€9,200 in life insurance).
The transfer must come from an old life insurance policy
In order to achieve this doubling of the tax exemption, the client must first be more than 5 years from the legal retirement age, i.e. be under 57 years of age. After that, the original life insurance contract must have been open for more than 8 years. Finally, the customer must make a complete transfer by investing all the life insurance contract amounts in PER.
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A transfer is considered for tax purposes as a new payment
Another advantage of this transfer: every euro placed on the PER reduces the taxable income of the holder of the plan within the double limit…
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