As a general rule, the amount placed in your employee savings plan can only be released after a minimum of 5 years. However, certain situations allow you to withdraw all or part of your assets early. Marriage, birth, divorce, domestic violence, retirement, disability, purchase of property, renovation of the main residence, over-indebtedness, etc. Whatever your reason, you will have to make a release request. Discover in this article all the points to remember for this process.
When can you unlock your employee savings plan?
According to the rules in force, you must wait a legal period of 5 years to be able to withdraw your assets. This concerns the PEE and salary participation. It is also possible to withdraw your savings immediately, if it is a PER or a PERCO.
Therefore, if an urgent situation requires you to. You can initiate a process to unlock your employee savings even before the agreed period. In this case, it is an early release or early repayment. For this, you must nevertheless have a valid reason. Do not hesitate to do some research to check what are the causes considered legitimate for this type of request.
Some practical tips
First of all, it is important to determine precisely the case of early release that concerns you. As well as the envelope to which it applies: PEE, Perco or collective PER. Then, you will have to initiate your request for early release in accordance with the imposed deadlines.
Know that each file is specific. It is therefore essential to inform yourself well beforehand about the various conditions which are imposed in your contract. Do not forget to bring any element that proves the legitimacy of your request. Attach one or more legal documents in your mail. Will allow you to put all the chances on your side to obtain an early release agreement. Each situation requires precise proof: marriage certificate, family record book, certificate of invalidity, death certificate, certificate of termination of contract, etc.
Before sending your request, be sure to check the amount you want to release. In fact, you do not have the right to request a second payment for the same reason. In this case, you would have to wait until your fund is recoverable.
Letters of request for the release of employee savings plans
Here are two sample letters you can use to unlock your payroll savings.
Example 1 for a request for early release of employee savings plans
Julien dupont
File number :
75 bis rue de la grande porte
75020 Paris
Tél. : 06 66 66 66 66
julien.dupont@xxxx.comFacility Name
Registered Address
Postal code and city[Place], on [Date]
By registered letter with acknowledgment of receipt
Subject: Request for early release of employee savings
Madame,
I put my skills at the service of our company since (date of recruitment) as (nature of your position).
I hereby submit a request for early release of my employee savings. My contract is registered under the following references: title, number and nature of the contract (PEE, PERCO…). I would like to withdraw (part or all) of my assets, that is (amount).
In fact (briefly explain the reason for your request). I am sending you attached (title of your proof) to support my request.
Pending a response that I hope favorable from you, please accept, Madam, the expression of my respectful greetings.
Signature
Example 2 for a request for early release of employee savings plans
Julien dupont
File number :
Registration number :
75 bis rue de la grande porte
75020 Paris
Tél. : 06 66 66 66 66
julien.dupont@xxxx.com
Facility Name
Registered Address
Postal code and city[Place], on [Date]
By registered letter with acknowledgment of receiptSubject: Letter of early release of employee participation
Sir,
Employee since (date of hire) in your company as (position held), I benefit from an employee savings plan that I would like to release (fully or partially).
Indeed (explain the reasons which push you to submit your request for unblocking: marriage, business creation, health problems, etc.). To justify my request, I send you as an attachment (title of the supporting document).
I hereby request the release of (amount) from my assets (do not forget to specify the nature of your savings plan).
In the hope of a quick agreement on your part, receive, Sir, the expression of my best regards.
Signature
Some tips for writing the letter of request
This is a formal letter intended to release part or all of your employee participation in your savings account. The content of the letter should be precise and direct.
Above all, make sure your supporting documentation is up to date to hope for a positive response. Also indicate the position you hold within the company and specify your employee reference if you have one.
Once your letter is ready. You can send it by registered mail with acknowledgment of receipt directly to the institution that manages your savings. For some establishments, there are unblocking application forms to be downloaded from an online platform in PDF format.
Note also that your request must be submitted within 6 months from the date of the event which allows the release.
The time limit for unlocking the sum
You should know that the transfer of the requested amount will not be done immediately. It depends on several parameters, such as the wording of the request, the delivery time of the letter, etc.
The release time also depends on the frequency of valuation of the funds in which your savings plan is invested. The calculation of the net asset value of a company mutual fund can be done by day, by week, by month, by quarter or by semester. In the majority of cases, this frequency is daily, which makes it possible to release the sum in a short time.
Once your unblocking request is accepted, your bank account should be credited within 5 working days.
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