How to choose the PER that's right for your retirement.
Everyone decides to save for retirement. And the retirement savings plan (PER) has become the ideal investment vehicle for this, although it is not the only one (insurance policies, corporate savings and real estate still have their advantages).
It is important to choose a product that is profitable for the long term. This is a daunting task as there are over 100 PERs on the market! To sort it out, a good solution is to proceed from your investor profile, defined by your knowledge of finance, your temperament (reserved? aggressive?) and your ambitions. Here are five profiles, with a selection of relevant PER.
Good news!
The default law directs your PER funds to "horizontal" management. In other words, your payments are split between stocks and bonds and guaranteed Euro funds, all according to your retirement date and management choices (from discreet to dynamic). On this basis, the manager gradually safeguards your capital as you approach retirement.
How effective is this automatic management? PER is too young to analyze its performance on a long-term basis. It is best to pay attention to the content of the proposed portfolio. Many PERs include horizon management consisting of "internal" funds, that is, funds managed by companies owned by the insurer or bank promoting the product. "This often leads to high commissions or even conflicts of interest in fund selection," says Sebastian D'Ornano, president of Yomoni. It is best to prefer independent horizon management, which yields better results in the long run. It is also worth paying attention to the presence or absence of a euro fund under management and its value. More than 0.70% per year is too expensive.
Self-employed investors prefer to choose the very financial instruments (units of account, in conventional terms) in which they invest. In fact, all PERs allow for "free" control on request. However, it is important that the product range offered is sufficiently diverse, with multiple management companies and assets (stocks, bonds, unlisted real estate, etc.). etc.).
The choice turns out to be quite simple: most PERs sold by banks or traditional insurers, including mutuelle companies, offer insufficient choice in this area. The internet is the place where you'll find the most comprehensive deals at a reasonable price. These contracts include dozens or even hundreds of investment funds, including stocks, real estate, direct equity investments, etc.
Another important aspect is whether PER provides clear and transparent daily information about the funds, their costs and fees? "Additionally, a multi-department is implied, which allows you to freely mix your free income and delegated management income or change your chosen management type," adds Delphine Paskie, Development Director at Prepar Assurance. In practice, few PERs offer this combination.
In PER it is not the size of the down payment that determines the "category" of the product, as they all open with a few hundred euros. If you need more than that, pre- and post-registration counseling makes the whole game. The key here is to engage the right financial advisor to optimize PER taxation, best incorporate this product into your estate, and tie it to your goals (retirement, inheritance, etc.). д.). All these additional services logically mean higher costs.
Private bank branches can provide them, but their PERs often lack financial appeal. Because the other key element of "luxury" is to get personalized management, called "by contract". In practice, you outsource the management of your savings to a management company according to a specific profile; its job is to ensure that the management is effective. Patrimonial PER options should also be looked at, including death guarantees and their cost.
PER is a long-term product that fits quite well with the idea of savings centered on sustainability, environment and socio-economic cooperation. However, be wary of the "eco-greening" that has taken over the financial sector with its often empty content.
The idea here is to use horizon management (with or without accounting) that incorporates fund labels (ISR, Greenfin or Finansol labels). This type of product is marketed in most PERs - this is, by the way, a legal requirement, with a minimum of three funds, but this is not enough to create a 100% "sustainable" portfolio. If that is your goal, your choices will be significantly limited. You will have to turn mainly to some of the mutuelle institutions that have made this their main advantage (La France mutualiste, Macif, Maif, etc. д.). In any case, don't forget to scrutinize the other characteristics of PER (commissions, funds in euros, related management tools).
PER for each profile © / DR
"The French ignore life annuities," insurers repeat. And they say PER's current success is based on its ability to generate capital, something previously lacking in retirement products. The idea of receiving income for the rest of your life in exchange for giving up capital with an insurer can be discouraging.
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