An employee who retires often discovers that their pension barely covers two-thirds of their former salary. The rest must have been anticipated, sometimes years before the last day of work. Preparing for retirement is not just about ticking an administrative box: it involves a series of concrete financial decisions, spread over time, that determine the standard of living after active life.
PER after 70: the new tax rules of 2026
The finance law for 2026 has changed a parameter that many future retirees are still unaware of. Contributions to a PER are no longer deductible from taxable income after the age of 70. The retirement savings plan remains accessible, but its main tax advantage at entry disappears after this age.
For couples, the situation becomes more complicated. The pooling of deduction ceilings between spouses becomes limited when one of them exceeds 70 years of age. According to details from the BOFiP relayed by Previssima, this restriction applies from the following year, with terms that vary depending on the situations. Previously acquired ceilings are not called into question, but it is advisable to check one’s situation with a tax advisor.
In practical terms, it is advisable to increase deductible contributions to the PER before reaching the age of 70. Waiting means losing an advantage that will not return. Those who wish to prepare for retirement with Finance du Particulier will find useful guidance on contribution strategies tailored to each age group.
Employment-retirement accumulation: what the reform changes by age group
Employment-retirement accumulation is often presented as a flexible solution to supplement one’s pension. The current system distinguishes between two regimes (full accumulation and capped accumulation), but the social security financing law for 2026 reorganizes this system by age group. Article 102 of law no. 2025-1403 introduces different rules before and after the age of 67.
For those considering continuing an activity after their departure, this reform changes the calculation. A 63-year-old retiree will not be subject to the same ceilings as a 68-year-old retiree. It is no longer enough to know if one is entitled to full accumulation: one must know which bracket they fall into and what income conditions apply.
Feedback varies on this point, as the implementing decrees further specify the thresholds and particular cases. Before committing to an employment-retirement accumulation, it is better to request an updated simulation from one’s pension fund.
Missing quarters and buyback: deciding before departure
An incomplete career statement means a reduced pension. Sometimes this is discovered late, when requesting one’s individual situation statement. Checking validated quarters well before the legal age allows for identifying gaps and deciding if buying back quarters is worth the cost.
The buyback is not always profitable. Here are the criteria to examine before proceeding:
- The number of missing quarters compared to the full rate, as buying back one or two quarters to avoid a discount can be very profitable, while buying back eight rarely is
- The age at which one plans to retire, since the closer the departure, the faster the buyback is amortized
- The marginal tax rate at the time of the buyback, as the contribution is deductible from taxable income and the tax savings vary significantly by bracket
Requesting one’s career statement as early as 45-50 years old allows time to correct errors (undeclared periods, forgotten military service quarters) without rushing.
Distributing retirement savings: PER, life insurance, and complementary investments
Concentrating all savings on a single support is taking an unnecessary risk. The PER offers a tax advantage at entry, but the money remains locked until retirement (except in cases of early release such as purchasing a primary residence). Life insurance, on the other hand, maintains liquidity at any time after eight years of holding.
An effective retirement preparation strategy generally combines several supports:
- The PER for deductible contributions, maximizing the envelope each year as long as the tax advantage exists
- Life insurance in euro funds and unit-linked accounts, to have accessible capital in case of unforeseen events before retirement
- Employee savings (collective PER, former Perco) when the employer offers matching contributions, which amounts to free money that would be a mistake to leave on the table
Recent proposals aim to revise the taxation of withdrawals and the transmission of PERs, as well as to regulate the age at which retirement savings can be built. The taxation of these investments is not fixed, and the rules can evolve from one finance law to another.
Pension amount: estimating without deceiving oneself
The average replacement rate, that is, the percentage of the last income retained at retirement, is around 65% according to Boursorama. This figure is an average: depending on the profile (executive, self-employed, civil servant), the gap can be significant.
Rather than relying on a global estimate, it is beneficial to use the official simulator available on info-retraite.fr. It aggregates data from all regimes and provides a personalized projection. Comparing the estimated amount of one’s pension to actual expenses allows for precisely quantifying the income supplement to be built.
This calculation should include often underestimated items: health insurance without employer contribution, maintenance of the home if one is a homeowner, potential assistance to an elderly parent. Retirement lasts on average more than 25 years. Over this period, even a small monthly gap between income and expenses can lead to a serious deficit.
Anticipating retirement is less a question of financial product than a question of timing. Decisions made between the ages of 45 and 60 (buying back quarters, contributions to a PER before age 70, diversifying supports) weigh much more heavily than those made in the urgency of the last months of activity. The tax framework changes regularly, as shown by the adjustments of 2026. Reviewing one’s strategy each year in light of new rules remains the most protective reflex.
