2023-10-31 20:09:56
A tax-free investment with savings available at any time and remunerated at 6%. This is the most attractive portrait of the Popular Savings Account (LEP). Launched in 1982 and reserved for low-income households, it has seen a spectacular revival of interest over the past two years and the entry into a period of high inflation. Thus, while in 2021, the number of LEPs had fallen to 6.9 million for an outstanding amount of 38.3 billion euros, the number of French holders stood at 10.1 million in August. With 59 billion euros placed on it.
“For the first time, the net collection of the LEP in September, at 800 million euros, was even higher than that of the Livret A and the LDDS combined even though this back-to-school month is not traditionally a month of collection of funds. “high savings”, specifies Marie-Laure Barut-Etherington, deputy director general of statistics, studies and international affairs at the Banque de France.
Among the reasons for this sudden enthusiasm, a simplification of the opening conditions. Since 2021, in theory, there is no longer any need to provide your banker with your tax notice to open a LEP. The advisor can consult a database made available to the General Directorate of Public Finances (DGFiP) to verify that his client meets the opening conditions (less than 21,393 euros of income for a single person). The tax authorities also sent an email to all eligible French people and the banks demonstrated better communication with their customers.
Towards a rate of 5% on February 1
But who are these 8.5 million French people who could qualify for a LEP and who have not opened one? And why ? Because some people don’t have enough money to save. But not only. “The LEP still suffers from a lack of awareness compared to its big brother the Livret A”, underlines the Banque de France which specifies that among the most modest households, the rate of holding a Livret A is higher than that of a LEP. While the latter is today twice as profitable.
Others wrongly think they are too rich to be entitled to it. Thus, a couple with 4 children is entitled to two LEP (one for each parent) if their reference tax income does not exceed 67,105 euros.
Workers and intermediate professions, a priori the main targets of this booklet, particularly have room for improvement. Just like young people. Adults under the age of 25 represent 10% of the population but less than 2.5% of LEP holders. Some simply do not have the possibility of opening one because although 21 banks – the largest – market a LEP, online banks – apart from Hello Bank, a subsidiary of BNP Paribas – do not offer it. “It’s a problem for eligible customers,” recognizes Marie-Laure Barut-Etherington. But nothing stops customers from going to another bank. »
In any case, to make the most of the advantages of the LEP, in particular the current remuneration of 6%, it is better to hurry up and open one or fill it as much as possible. “Given the trajectory of inflation, I would be surprised if the rate was not revised downwards,” concedes Marie-Laure Barut-Etherington.
The next rate revision is scheduled for January 15 for entry into force on February 1, 2024. And if we base ourselves on the half-yearly average of inflation excluding tobacco, the rate could be lowered to 5%.
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