Can You Have Several PER Plans in France?
Updated on 28 July 2026
Yes, you can! French law sets no limit on the number of PER (France's retirement savings plans) a person can hold. Combining several PER, for example an individual PER and a company PER, diversifies your retirement savings and lets you benefit from the tax advantages particular to each contract, within the legal caps.
- No law limits the number of PER you can hold: you can combine an individual PER and a company PER without restriction.
- The tax deduction cap stays global per person, across all PER combined: opening more contracts does not raise it.
- A bank-based PER and an insurance-based PER complement each other: managed-portfolio service on one side, access to euro funds on the other.
- Holding several PER avoids transfer fees between plans, but makes administrative tracking more complex.
What Is a PER?
A Retirement Savings Plan (PER) is a savings product designed to help prepare for retirement. It was introduced by the Pacte law in 2019 to modernise and simplify retirement savings.
There are three types of PER:
- Individual PER
- Collective company PER
- Mandatory company PER
Individual PER
The individual PER is open to everyone. Anyone can subscribe and save for retirement through it. The capital is paid to the retiree as an annuity or as a lump sum at retirement.
Company PER
The company PER has two sub-categories:
- Collective company PER: offered to all employees, it replaces older schemes such as the PERCO (Plan d'Épargne pour la Retraite Collectif, the former collective retirement savings plan).
- Mandatory company PER: reserved for certain categories of employees, who are required to subscribe to this contract.
Example:
| Type of PER | Description |
|---|---|
| Individual PER | Open to everyone, self-directed |
| Collective company PER | Open to all employees |
| Mandatory company PER | For certain categories of employees, mandatory |
Can You Open Several PER?
It is possible to hold several retirement savings plans (PER). Each type of PER, whether individual or company-based, offers its own advantages. Here is how these different plans can be combined to optimise retirement savings.
Why Open Several PER?
Holding several PER lets you diversify your investments and benefit from different tax advantages. For example, an individual PER can offer great management flexibility, while a company PER can include profit-sharing, incentive-scheme or employer top-up benefits.
According to service-public.gouv.fr, holding several PER does not multiply the tax advantage: the deduction cap is calculated globally per person (10% of earned income, within the limit set each year), whatever the number of contracts. Splitting contributions across several PER remains useful for diversifying investments and combining the advantages of each contract. Every saver should weigh the merits of this approach against their own situation.
How Many PER Per Person?
No law prohibits holding several PER. In practice, every saver can open as many PER as they wish. This freedom makes it possible to combine different advantages depending on each contract. For example, holding both an individual PER and a company PER is entirely possible.
However, it is essential to manage these different contracts carefully to avoid administrative complexity and ensure your savings are managed properly. Tracking tools or professional advice can help make that management effective.
Can You Have a Company PER and an Individual PER?
Yes, you can combine an individual PER and a company PER. The individual PER is often chosen for its management flexibility, while the company PER offers particular advantages tied to employer profit-sharing.
Both types of PER can coexist, letting you benefit from the advantages of each. The company PER can include employer contributions through profit-sharing, incentive schemes or top-ups, which can give retirement savings a meaningful boost.
This combination can be weighed based on each saver's personal situation.
Goals
What Is the Benefit of Having Several PER?
Holding several retirement savings plans (PER) can offer a range of advantages in terms of diversification, tax benefits and flexibility. Here are the main reasons why.
Holding a PER With a Bank and an Insurer
Holding a bank-based PER and an insurance-based PER lets you diversify your investments. The bank-based PER can offer managed-portfolio options, while the insurance-based PER lets you include secure euro funds. Diversification helps spread risk and can potentially raise returns.
Insurance-based contracts can also offer particular advantages, such as the capital protection on euro funds provided by the insurer. In addition, certain tax advantages belong only to particular contracts, which can maximise the tax benefits built up over time.
Combining Several Commercial Offers
Different financial institutions offer a range of commercial deals on PER. By opening several PER, you can combine these offers and benefit from the advantages particular to each contract. For example, some banks may offer reduced fees, while other insurers propose varied pricing terms.
These commercial offers may include welcome bonuses, reduced management fees, or temporary promotional terms. Combining these offers can improve the overall return on your savings. Savers can this way take advantage of the best terms available on the market.
Avoiding Transfer Fees Between PER
One of the key challenges in managing PER is the transfer of funds between different plans. Transfer fees can be high and eat into the return on your savings. Already holding several PER removes the need to transfer funds, avoiding these extra costs.
Avoiding transfer fees keeps more capital working for retirement. This helps limit the costs tied to transferring funds over the long term.
How to Manage Several PER Effectively?
Managing several retirement savings plans (PER) can bring administrative complexity. Here is an overview of the tools available and how contributions work.
What Tools Help Manage Several PER?
Using online management tools simplifies handling several PER. Platforms such as those offered by your wealth manager let you view all your PER in one place.
Wealth-tracking apps such as Finary let you, for example, bring together all your PER in one place, alongside your other investments, to track how they grow over time.
Mobile apps are also very useful. They offer notifications for contribution dates and let you track the performance of each PER.
Working with a financial adviser can also be worthwhile. They can help choose the management style (for example, managed-portfolio service or self-directed management) best suited to each PER. An adviser can also help optimise the tax aspects and potential returns of your investments.
Contribution Strategies Across Several PER
Voluntary and mandatory contributions shape how PER are managed. How you split your contributions can affect tax deductibility, within the legal caps.
Regular contributions, rather than one-off payments, can help smooth out market fluctuations. This approach, however, guarantees no particular return.
Splitting contributions between workplace and individual PER can give you access to different lump-sum or annuity payout. It also gives you the flexibility needed to adapt your strategy to personal circumstances or market conditions.
Frequently Asked Questions
Is There a Maximum Number of PER Per Person?
No. No law caps the number of retirement savings plans a person can hold. You can combine several individual PER and company PER, as long as you keep the administrative tracking under control.
Does Opening Several PER Raise the Tax Deduction Cap?
No. The deduction cap is calculated globally per person, across all PER combined. It corresponds to 10% of earned income, within the limit set each year. Splitting contributions across several contracts does not raise it.
Can You Combine an Individual PER and a Company PER?
Yes. The two coexist without difficulty. The individual PER offers self-directed management, while the company PER can receive employer profit-sharing, incentive-scheme payments or top-ups, a welcome addition to your savings.
Should You Transfer Old PER Into a Single Contract?
Not necessarily. Transferring can trigger fees that reduce your savings. Keeping several PER lets you avoid them, at the cost of more scattered tracking, which an aggregation tool can simplify.
Sources
Service-public.fr: retirement savings plan (PER), deduction cap and types of PER
Service-public.fr: the individual PER
Regulatory disclaimers: Marketing communication. Investing carries a risk of partial or total capital loss. Past performance is not a reliable indicator of future performance. This article is provided for information and educational purposes only; it does not constitute personalised investment advice, a buy or sell recommendation, or tax advice. The capital guarantee on euro funds is provided by the insurer and depends on its financial strength. In a severe systemic crisis, the French "Sapin 2" law allows withdrawals to be temporarily restricted (liquidity), without affecting the guaranteed capital. Unit-linked funds are not guaranteed and carry a risk of capital loss. Before investing, read the Key Information Document (KID) and, where relevant, consult an authorised adviser. Finary SAS, an investment firm authorised by the ACPR (no. 19283), member of AMAFI. Insurance broker registered with ORIAS (no. 21001279), member of the CNCGP (association approved by the AMF). Crypto-Asset Service Provider (CASP) authorised by the AMF under the MiCA regime, references no. A2026-026 and no. N2026-008.
