Abstract
As in other countries around the world, where reductions to the pension system have become all too common, a growing concern of French employees is how to achieve financial security in their years of retirement. PERCO ( Plan d’épargne pour la retraite collectif, or Group Retirement Savings Plan ) schemes have the purpose to encourage workers to use voluntary, funded plans to supplement the traditional pay-as-you-go retirement pillars. Similar to a 401(k) plan, its dual nature of voluntary savings scheme and occupational retirement plan offers a flexible approach that allows employers to respond to variable business conditions as well as offer a third-pillar retirement option to the workforce. This article provides an overview of the general features of PERCO schemes.
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