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The PEP is a product intended for building up long-term savings. It has been closed to subscription since 2003. Should you follow the recommendation of a bank adviser to close it?

Not to be confused with PERP, PEP is life insurance only better. It can no longer be opened since September 2003. Nevertheless, already existing plans can still be funded up to 92,000 euros.

In any case, it is important not to close your PEP . It allows you to invest in more or less risky funds. It also gives the possibility of taking out a taxable annuity. Taxation in the event of withdrawal and death is the same. After eight years, the saver escapes the 7.5% tax in the event of withdrawal. Thus, it is preferable to keep a PEP and give it a second life. It is possible to transfer it to an online player who will pay it better.

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