Personal finance: what to remember this week

In October 2022, net life insurance inflows decreased by 300 million euros. Mortgage interest rates continued to rise. The Christmas bonus will be paid to certain recipients of the social minimum from 15 December 2022. The repair bonus will be available in mid-December 2022. The counter dedicated to the verification of wood energy will be opened on December 22, 2022. The final debit of the income tax balance is scheduled for December 27, 2022. Since 2023, it has been absent. A Linky meter can cost around €50 per year.

Summary:

• Life insurance: Negative net inflows in October 2022
  

• Real estate loan: rates continue to rise
  

• Christmas 2022: An exceptional year-end bonus paid in mid-December
  

• Assistance in the repair of electrical and electronic devices
  

• Wood energy audit: opening of the counter on December 22, 2022
  

• Income Tax: Last balance on 27th December 2022
  

• Not having a Linky meter can cost around €50 per year
  

Life insurance: Negative net inflows in October 2022

Life insurance recorded negative net inflows of -300 million euros in October 2022, against +500 million euros in the previous month, according to figures published by the French Assureurs federation. Since the beginning of 2022, net inflows have remained positive (+12.3 billion euros), but less than in 2021 during the same period. In unit-related media, it reached the highest level ever recorded (+€29.4 billion). The economic context, marked by high inflation and rising interest rates, “explains a large part of the slightly negative net collection of life insurance in October,” said Franck Le Vallois, managing director of France Assureurs.

Real estate loan: rates continue to rise

The average mortgage rate (excluding insurance) continued to rise to 2.25% in November 2022, after exceeding the 2% mark in October 2022 for the first time since 2016, according to data published by the Credit Housing/CSA Observatory. Amid worsening economic conditions, the decline in mortgage production continued with a 37.3% decline in the number of loans issued between September and November 2022 (quarterly). As for the duration of the loans issued, it continues to extend to a level never seen in the past, with an average of 248 months in November 2022.

Christmas 2022: An exceptional year-end bonus paid in mid-December

An exceptional year-end bonus, known as the “Christmas bonus”, will be paid to certain beneficiaries of the social minimums (active solidarity income, special solidarity allowance, pension equivalent allowance, etc.) from 15 December 2022. This bonus is paid by the Pôle emploi, the Family Benefit Fund (CAF) or the Mutualité sociale agricole (MSA), depending on the status of the beneficiaries. Its basic amount is €152.45 per person, but can be higher depending on the composition of the household. Since 1998, around 2.3 million families have received the Christmas bonus each year.

Assistance in the repair of electrical and electronic devices

From December 15, 2022, assistance will be provided for the repair of electrical and electronic devices of about thirty categories that are already under warranty. This “repair bonus” comes in the form of a flat rate between 10 and 45 euros, which is about 20% of the repair fee, depending on the type of device. Those wishing to benefit from this should contact an approved repairer participating in the scheme. The goal of this bonus is to increase the number of repairs by 20% per year and extend the service life of electrical and electronic devices, today 90% of failures are not repaired.

Wood energy audit: opening of the counter on December 22, 2022

Assistance for wood-heated households is intended for those whose monthly income does not exceed a certain threshold, ie 2,260 euros for a single person, 4,750 euros for a couple with two children. The amount of the check will be between 50 and 200 euros, depending on the income. The dedicated counter will open on December 22, 2022 at chequenergie.gouv.fr. According to the Ecological Transition Agency (Ademe), more than 3 million French people heat themselves with wood, especially with pellet boilers.

Income Tax: Last balance on 27th December 2022

Taxpayers whose withholding tax is insufficient in 2021 and whose tax balance exceeds 300 euros will be deducted from the final payment date of December 27, 2022. Payment of balances over €300 is divided into four valid direct debits. September and December 2022. If there is an error, the 2021 income tax return correction service is open for a few days until it closes on December 14, 2022. To use it, taxpayers have to go to their tax area. visit the website and go to “Edit my online return” section. A paper amendment must be sent after this date.

Not having a Linky meter can cost around €50 per year

From 2023, households that refuse to install a Linky meter and do not report at least one consumption index reading in the last 12 months will have to pay a compensation of €8.30 every two months to cover the service. .fr. Households equipped with an old generation meter and reporting their consumption to Enedis at least once a year will still benefit from this free service until December 2024. After that, this service will be billed to all those who are not equipped with Linky. installation of this meter is impossible due to technical reasons.