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The sarkozette was met with great success

It is a discipline in which it excels. Which one This is not tennis as the best French tennis player has not exceeded at Roland Garros quarter-final stage. It is no more football, sport in which predictions does us were not frankly favourable in Germany at the beginning of the competition. No, it's a very particular sport, the production of texts, laws, decrees, regulations. The France is not far from hold in this discipline is the world record. Not only we produce many texts, but we delete not many. Result: each and others piled on each other and the citizens that we no longer know what regulations to devote. Between what is authorized after having been defended, which has been authorized, but no longer is, and which should be soon allowed or forbidden, borders become very blurred.

Employees savers, those who have the possibility to build savings for the company in which they work, are not immune to this French curse. It is simple or rather it is well... complicated. Nothing in the course of the past six years the savings has been framed or "désencadrée" by not less than nine different texts. Even better or rather worse, employees savers have been entitled to "fifteen laws in 15 years", as specific Guy Cabessa, the Director General of Natexis Interépargne, the first savings in France handler, the Banque Populaire group, who made two calculations!

In the beginning, things were simple. Savings pay, soon old half a century (the award was established in 1959 and the participation in 1967), was a savings that employees were virtually "unbeknownst to the voluntarily." She used several channels, engagement, participation, savings business, then much more recently plan (Perco) collective retirement savings plan, all largely irrigated by employers. The very favourable environment in which operates the savings (tax, employer, an additional generosity "matching" exemption of the business that can double the of employee) was a "formidable investment" to regain the title of the small book that he spent in Dunod in 1993 Patrick Turbot, partner at EPS partners and savings in the business and social protection specialist.

The savings was an even more formidable investment that she obeyed rules binding but known and whose application was in the interests, understood, salaried savers. The placed amounts should remain blocked exception (s) for several years (five years). With regard to actions (the savings is two-thirds invested in shares), it was a good thing, since the investor in the stock market must be otherwise life, a long enough period of life, before him, for his... investment reaping all. The time is the best ally of the stock market. Ally even more valuable in this case than in others, the savings are often the only savings of the employees concerned. This was the framework clear, net and precise salary savings!

Then, suddenly, the machine is packed. Blocking rule has almost become the exception. The case of unblocking early (before five years hence) have multiplied. Some Governments have obeyed or felt it necessary to obey short-term economic constraints. Others have even more revolutionary zeal. Result: employees savers are likely to have lost the (good) how to use their savings. Here it is... knowing that nine who have made major alterations or non-wage savings over the past six years should be followed by others in the weeks and months to come. Where are you today When can you unblock your savings When do can you not

What you could do and that you can no longer be

First, forget the "sarkozettes", "raffarinades" and other "villepineries"! Clearly, several Ministers including the first of them were at a relatively recent time or another placed in regimes of exception. The most notable exception was introduced by Nicolas Sarkozy when he was Minister of economy and finance. Because the recovery of consumption was a national duty, the current Minister of the Interior and President of the UMP had "released in the purchasing power of" via the savings. It was two years ago. Employees savers had been allowed to withdraw up to 10,000 euros on their savings stock regardless of the date of disbursement of funds. The "sarkozette" was met with great success. Employees savers had widely tapped into savings. The consumption of French products had not flambé. Of imported products, it was not, in the opinion of many economists, brought more poorly. Whatever the macroeconomic outcome, the "sarkozette" is not.

The life expectancy of the "raffarinade" was not longer. There was the possibility for employees depositors as had been announced by Jean-Pierre Raffarin, then Prime Minister, on 23 March 2005 to eat without further delay their participation allocated to the title of the results of 2004. More specifically, the Act for the confidence and the modernisation of the economy voted on July 26, 2005 authorized employees to collect up to end of 2005 the amount of participation in March or April 2005 in respect of the financial year 2004. Exit the "raffarinade"!

Life could have been longer, but the fate the reactions to the initial project of former Prime Minister should decide otherwise. Jean-Pierre Raffarin had neither more, nor less planned to remove the five year blocking period. "I believe that the issues amounts of participation mandatory blocking has more today's reason to be", he said before the economic and social Council on 23 March 2005. Each employee in the Raffarin project should be able to choose between a complement of available salary immediately or the assignment of these amounts to a savings in the business device. Small, but very small flat: this measure should not affect the amounts accumulated in previous years which remain blocked. Shooting, grouped, unions, UMP deputies and managers of the savings should be fatal. Summing up so! The savings is stuck it is the general rule five years. But the "unblock Raffarin", he died late last year.

An exception hunting the other! This time, it is the successor of Jean-Pierre Raffarin, the current Prime Minister Dominique de Villepin, who went to his... "villepinerie". What is it The possibility given to employers to pay from 1 January to 31 July 2006 a one-off bonus in the amount of 1,000 euros per employee. If the company had a company savings plan, the employer should first inform each recipient employee the possibility of direct payment to claim the bonus on this plan. Absence of a positive response from the employee, the sum should be paid directly. The "villepinerie" already almost belongs to the past, because in a week it will be too late. Indeed very few companies had used this possibility to a few days of the closing of the window. The

savers employees who have not benefited can already forget. Applicable for the year 2006 and nothing for this year, "this measure was aimed at all businesses, but it was more specifically oriented to companies whose results were satisfactory, even exceptional 2005". The "villepinerie" was otherwise a response, a response element in the debate on "super-profits" of French companies...

What you can do

Reminder:... normally, but the normal time is short for some time, the money invested in the plan of savings company (EPE), and participation (even when it is not paid in a PEE), are blocked for five years as of their payment of their assignment or in the plan. In some cases, you can request the unblocking of your savings: you must make this request within a period of six months of the occurrence of the chargeable to the company or the body designated in the agreement or the regulations of the plan to hold individual accounts of employees. In the case of termination of the contract work, death, disability or over-indebtedness, the application can intervene at any time. The release of all or part of the savings, depending on the choice of the employee, is a unique payment.

For the participation and the PEE, cases of early release are the following:

(1) marriage or conclusion of a pacs by the employee;

(2) birth or arrival at the home of a child for adoption when it relates to three and more the number of children the responsibility of the home;

(3) judgment holding the residence standard of at least a child at the home of the employee upon separation of a couple, married or not;

(4) disability of the employee of his children, his spouse or the person that he is bound by a pacs;

(5) death of the employee, spouse or person related to the beneficiary by a pacs;

(6) termination of the contract of employment;

(7) creating or taken over by the employee, his children, his spouse or the person related to the beneficiary by a pacs, business industrial, commercial, craft or agricultural; acquisition of shares of a cooperative production company (SCOP);

(8) acquisition or expansion of remission or primary residence in a State of the damaged main residence following a natural disaster;

(9) Finally, situation of over-indebtedness of the employee.

In short, unblocking cases cover all or almost all "situations heavy of the life of the people", says Dominique Coudert, Deputy Director of Natexis long distance saver. The most frequent cases of unblocking, found by the managers of savings, are the termination of the contract of employment, and the purchase or work in the principal residence. Followed by the marriage or the death of the beneficiary or of the spouse.

Again, nothing new, but... things should change in the weeks and months to come.

You should soon be able to

This time, the time will come from the Bill for the development of participation and the employee share ownership of the Minister for employment, Gérard Larcher. When The "official" schedule is as follows: presentation by the Council of Ministers, scheduled in mid-June, and then delayed first, first reading in the National Assembly reconvenes, final adoption before the end of the year. But things should not be as simple. Feeling come the storm, the Government, rather than by force, adopted a strategy in two times. The more consensual changes in wage savings devices should be included in the Bill itself. However, the most sensitive subjects who might get angry will be "treated" by Decree. Less consensual provisions, they are passed to the trap. The draft law gave depositors employees the opportunity to unblock funds for participation so early after three years instead of five. The draft law is silent as a carp on the subject.

That should change in a way version draft Act or an other version order Several things.

A: cases of unlocking additional. For Guy Cabessa, the Director General of Natexis long distance saver, "a new case of unblocking early concerning the financing of the children's education should be included in the order. Others in the future could be still added. Here a few years, it is not impossible that dependence are on the list. Dominique Coudert, Deputy Director of Natexis long distance saver, think that the savings will be déloquée polls a day or the other to finance health problems.

Two: a repayable advance on wage savings system, inspired by the life insurance contracts. The mechanism is as follows. Has an employee investors want or need to have in advance of part of its participation, blocked therefore five years. He contracts a loan from the Manager institution or a bank with an agreement with the facility manager. The loan is pledge on the interest held by the employee, but the amount should not exceed a share (between 50 and 80). The rate at which will be the loan should not be very high. It will not be there nothing other than the generalization of the already existing advances on savings, but whose dissemination remained confidential. Banks, such as CIC, or credit, as Eole Finance agencies, bought end of 2004 by Financo, held by Credit Mutuel Arkéa (Brittany, Massif central and Southwest), were already for several years for loans to salaried savers. Loans pledged having disappeared from the draft law, they should be within the jurisdiction of the order.

Three: the establishment of a "dividend of labour" which may take the form of a supplement of participation and engagement in the limit of the current ceilings or the form of a collective distribution of free shares. Employers should be able to pay a supplement of participation and engagement in the only limit of 15,000 euros per year and per employee. The "work dividend", which is more of the premium or compensation that anything, returns, too, in the debate on "super-profits". It is, or rather it will be an act of marketing on the part of the Directorate-General of the company and the share of... Government!

In short, the contours of the landscape of the savings will be much moved by the end of the year. But it should not be that the accumulation of various and varied, reforms too often guided by only political concerns, make them blurred in the eyes of users, i.e. employees investors and employers. Would "A bit of stability in it do much good", recognizes Guy Cabessa. "In large enterprises, this poses no problems." There are "structures" which digest the texts. But it is very disturbing for the leaders of SMEs. Entrepreneurs are tempted to wait for the reform, or the following reforms, to set up a savings device. The development of the savings potential is today in SMEs.

In the field of wage savings as on sports grounds, players can provide a quality show that if the rules of the game do not change to every game...