A major wave of closures will affect household savings in the coming years. Between 2026 and 2030, approximately 3,2 million home savings plans will automatically disappear, representing nearly a third of the plans currently in circulation. The reason: a reform implemented fifteen years ago that now limits the lifespan of certain contracts.
The rule applies exclusively to plans opened from March 2011 onwards. These plans cannot be held for more than fifteen years, unlike older PELs (home savings plans), which have no expiration date. Nationally, the plans concerned represent nearly €93 billion in outstanding balances, out of a total of approximately €203 billion.
Automatic transformation and choices to anticipate
Upon maturity, expired home savings plans (PELs) do not simply disappear: they are converted into ordinary savings accounts, earning interest according to the terms set by each bank. However, account holders retain the option of accessing their plan before closure to obtain a home savings loan, or of voluntarily closing it to redirect the funds to another project.
Banks plan to inform their clients in advance and offer personalized support. Some experts believe this wave of closures could encourage savers to turn to other investments, such as life insurance, which is considered more attractive in terms of returns and tax benefits for long-term capital.
