Infotech How to take care of your retirement savings plan

How to take care of your retirement savings plan





Retirement is once again one of the files of the government return. The subject is hot in more ways than one. Firstly because its reform was one of the campaign promises of candidate Macron, in 2017. Then because in five years, and despite a majority in Parliament, the government has not succeeded in imposing it. And finally and above all because the opposition is in the majority and mostly against, like many French people.

At what age can we retire, and with what income? If there is a lot of uncertainty on the first question, especially for the younger generations, the answer to the second is much clearer: pensions will at best stagnate, at worst decrease. This is obvious: nearly two-thirds of French people believe that their retirement pension is or will be insufficient to live properly.

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What to do in these conditions? Since we cannot entirely rely on the State, it is up to each of us to ensure, as soon as possible, an additional income. Start by taking stock of the situation. For the start of the new school year, the public site Info-retraite.fr offers a service listing all the retirement insurance contracts – individual or collective savings plans, article 83 or the Madelin law – that you have been able to open with your bank. , at your insurer, online, at your company or even in a previous professional life.

Retirement savings plan: beware of bureaucratic blockages by insurers

Many savers thus combine several envelopes. It’s time to do some spring cleaning. And this is where the government can help you. The Pacte law of 2019 created the retirement savings plan (PER), the purpose of which is to replace the old systems. It is thus possible to transfer all its contracts in a single PER envelope. A very simple envelope, which allows you to save and capitalize for your old age with tax advantages. And if the Pacte law was the real landmark reform of the government on pensions?

Stefan de Quelen

The eye of Fiorentino: stock market scenarios

How to anticipate the evolution of the stock market? It is very simple. It suffices to take into account the evolution of inflation and interest rates.

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Let us study the case of the New York Stock Exchange, which gives the the to the rest of the world. Year-to-date, shares there have plunged about 20%. Nothing abnormal because, at the same time, short-term interest rates have moved from 0 to a range of 2.25% to 2.50% and should reach, according to the market consensus, 4, 4% in 2023 before a probable drop at the end of the year.

This change in the cost of money depends on a scenario of a gradual fall in inflation from the record levels of June to reach an expected average rate of 2.6% over the next ten years.

The equation can therefore be summarized as follows: average inflation expectation at 2.6% = short-term rate between 3% and 3.5% on average over the next eighteen months = stock market fall of 20%.

If we consider that these expectations are realistic, the equity market is therefore moving at its fair price to within plus or minus 5%.

But many specialists believe that this consensus is faulty and estimate that average inflation could stand at 4.5% over the next decade. This would call for short-term interest rates of 4.5% to 6%… and a stock market down another 20%!
Do your calculations. If you believe that we have passed the peak of inflation, the stock market is at its price. But if you think that the new inflationary norm will settle permanently around 4.5%, you must anticipate a further drop in stock market values. It’s up to you to choose your scenario…

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Marc Fiorentino

The figure: -0.5% to +0.8%

This is the range of the Banque de France’s growth forecasts for 2023. The government still hopes that we can escape the recession but economists are more skeptical and worried. The Banque de France has also revised its forecasts downwards. A temporary recession is not a problem. But it is important not that the temporary settles in the long term.



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