Early Withdrawal of Employee Savings: Three New Situations to Be Aware Of

Holders of a Company Savings Plan (PEE) have reason to celebrate: there are now three new circumstances under which they can withdraw their employee savings early. 

These provisions, which pertain to energy-efficient renovations, the purchase of an eco-friendly vehicle, and expenses related to the role of a caregiver, were introduced by an implementing decree on value sharing published on July 6.
 

Existing cases of early release:
 

Even before this decree was issued, there were already several situations that allowed employees to access their employer-sponsored savings before the end of the five-year lock-in period. 

These included:
• Marriage or the formation of a civil partnership (PACS)
• The birth or adoption of a child, starting with the third child
• Divorce, separation, or dissolution of a civil partnership (PACS), with custody of at least one child
• Domestic violence
• Disability (of the employee, their spouse or civil partner, or their children)
• Death (of the employee, their spouse or civil union partner)
• Termination of the employment contract (dismissal, resignation)
• Excessive debt
• Starting or taking over a business (by the employee, their spouse or civil union partner, or their children)
• Setting up a business to pursue another self-employed profession
• Acquisition of shares in a cooperative production company (SCOP)
• Purchase of a primary residence (or expansion or repair work following a natural disaster)
 

The three new circumstances under which early withdrawal is permitted:
 

Effective immediately, there are three new circumstances under which employee savings may be released early:
 

1. Energy-efficiency renovations to your primary residence: If you undertake work to improve your home’s energy efficiency, you can withdraw your savings to finance these expenses.
2. The purchase of a clean vehicle: If you wish to purchase a vehicle that produces low emissions when in use (such as an electric vehicle, for example), you can withdraw your savings to finance this purchase.
3. Caregiving: If you regularly and frequently provide non-professional care to an elderly person who has lost their independence, you can withdraw your savings to cover expenses related to this caregiving.
It is important to note that withdrawals for caregiving purposes can be made at any time.
 

Steps to access your employer-sponsored savings plan:
 

To access your employee savings in any of these situations, you must submit a request to the organization that administers the PEE on behalf of your employer. This request must be accompanied by documentation verifying the event (marriage certificate, divorce decree, employment certificate, etc.).
 

Please note: Except in certain urgent situations (death, disability, termination of employment, and excessive debt), you must submit this request within six months of the event that justifies the release of funds.
 

Thanks to these new provisions, PEE account holders now have greater flexibility to access their employer-sponsored savings early. These measures, which promote the energy transition and support for dependents, enable employees to cover significant expenses while preserving their savings.