Early Release Of Employee Savings: A Reminder For Employers

• Published date: 21 February 2023
• Subject Matter: Employment and HR, Tax, Employee Benefits & Compensation, Income Tax
• Law Firm: Yards
• Author: Ms Christine Hillig-Poudevigne, Marion Peringuey, Lucas Aubry and Sara Ouarti

The law on exceptional measures to protect purchasing power of 16 August 2022 introduces an exceptional early release of employee savings for the year 2022.

Employees can apply for the early release of '10,000 exempt from social security contributions and income tax.

• Please note that companies have 2 months from the promulgation of the law to inform employees of this possibility of early release of employee savings, i.e. until 16 October 2022.
• Applications for the early release of employee savings may be made by employees until 31 December 2022.
• The sums eligible for unlocking are the sums resulting from profit-sharing and/or participation allocated in particular to a PEE, a PEI or a current account and this, before 1...