French Retirement Savings Plan Introduces First Bitcoin ETN! Scale exceeds 200 billion euros

This site (120Btc.coM): France’s retirement savings plan (PER) is undergoing major changes. According to Cointelegraph, the internationally renowned asset management company VanEck Europe is cooperating with the French investment company Inter Invest to develop the French retirement savings plan. The first Bitcoin ETN was introduced in China, an initiative that provides savers with diversified investment opportunities.

France Retirement Savings Plan Introduces First Bitcoin ETN

With $387 million in AUM, VanEck Europe’s Bitcoin ETN will now provide French retirement accounts with secure Bitcoin investments, with physical Bitcoin backed by Being held by a regulated custodian ensures that French investors have controllable risks.

Jean-Baptistede Pascal, Deputy Managing Director of Inter Invest, said that the specific goal of this collaboration is to democratize innovative financial assets, which is fully in line with the company’s overall strategy. The strategic alliance meets investors’ increasing demand for diversified and modern savings options. growing demand, while paving the way for a new era of retirement savings management in France.

The introduction of Bitcoin in PER opens up new horizons for French pension accounts. Martijn Rozemuller, CEO of VanEck Europe, said: Investors should view Bitcoin as a complement to retirement savings strategies rather than a substitute for traditional assets. VanEck's Bitcoin ETN provides controlled investment exposure, allowing retirement accounts to diversify their portfolios while minimizing the risk of directly holding cryptocurrencies.

"At VanEck, we firmly believe that Bitcoin is an innovative long-term asset. Its current volatility reflects the value-seeking phase that is typical of emerging assets."

What is PER?

The French Retirement Savings Plan (Plan d'Epargne Retraite, PER) is a retirement savings system launched by the French government in 2019 to encourage people to save for retirement. PER replaces the old retirement savings products, such as PERP and Madelin Retirement Savings Plan, and integrates multiple retirement savings products into a single product to facilitate people's selection and management.

PER is divided into three types:

• Personal Retirement Savings Plan (PER Individuel): This is a retirement savings plan independently selected and managed by individuals, similar to the previous PERP and Madelin retirement savings plans, individuals can Open such an account through a bank, insurance company, or other financial institution. There is a wide range of investments, including stocks, bonds, funds, etc.

• Collective Retirement Savings Plan (PER Collectif): This is a retirement savings plan provided by employers for employees, similar to the previous "Company Savings Plan" (Plan d'Epargne Entreprise, PEE) and "Collective Retirement Savings" Plan d'Epargnepourla RetraiteCollectif, PERCO), this kind of plan requires both the employer and the employee to pay for it.

• Mandatory Retirement Savings Plan (PER Obligatoire): This is a retirement savings plan that must be provided by employers to certain specific groups of employees. This type of program is primarily targeted at top managers or specific positions.

The new mechanism VanEck Europe hopes to introduce this time may be to provide cryptocurrencies such as Bitcoin for the Personal Retirement Savings Plan (PER Individuel).

The main features of PER include:

• Flexibility: PER allows people to make flexible payments and can choose to make one-time payments or regular payments.

• Tax benefits: PER contributions can enjoy tax deductions within a certain amount, reducing the current taxable income.

• Diversification of investment options: PER provides a variety of investment options, including funds, stocks, bonds, etc. People can choose according to their risk tolerance and investment goals.

• Flexible withdrawal methods: After reaching retirement age, people can choose to receive the accumulated amount of PER in one lump sum, in installments, or to convert it into an annuity.

• Inheritance: If the PER holder dies before retirement, the accumulated amount can be passed down to the beneficiaries.

Since its launch, PER has been widely welcomed by the French people, and its asset management scale has grown rapidly. According to data from the French Insurance Association (France Assureurs), as of the end of 2023, PER's asset management scale has exceeded 200 billion euros.

The above is the detailed content of French Retirement Savings Plan Introduces First Bitcoin ETN! Scale exceeds 200 billion euros. For more information, please follow other related articles on the PHP Chinese website!