Pensions: what changes if you leave at 64 or 67…

January 10, 2023, Élisabeth Borne to announce the provisions of the new pension reform. The new starting age is 64.

The pension system is based on the fact that the human metabolism does not allow working until certain ages . Arrived at seniority, every human being needs rest . In the professional world, this period of rest is retirement. All of this gives importance to the legal age of departure .

In the pension reform that Emmanuel Macron has prepared since his first mandate , this age will be shifted. If currently, he is 62 years old, after the entry into force of the reform project , he will be 64 years old. In addition to these figures, what changes for seniors?

Pension reform: The new changes

As mentioned above, the legal age of departure will be changed at 64 . To calculate a retirement pension, it is not only the age that counts. It must also be taken into account the duration of paid contribution which is calculated by quarter .

The implementation of the pension reform not only increased the pension age, it also increased the number of quarters to contribute. Report by the news site TF1 INFO, published on January 11, 2023, Here is the change that will apply to the contribution period :

“It goes from 42 years (168 quarters) currently to 43 years (172 quarters) by 2027.”

It is in 2027 that it applies entirely, because the implementation of this measure will be done in stages . The rate of addition will be three months per generation .

With these new rules, how to have a full pension?

What do we mean by a full pension ? This is the full pension that a retiree should have after retiring. We say complete, because it is quite possible to retire , but not complete. Here is the new conditions imposed by the pension reform.

To have a full pension, a person must work until age 64 and complete 172 quarters. People who have completed 172 quarters before age 64 will have to work until they reach the legal retirement age. Conversely, those who are 64 but have not completed their semester will have to continue working .

By way of illustration, a person born in 1966, could theoretically retire in 2030 . Provided that he started working at age 20 to complete the contribution period. However, there are some workers who escape this rule .

Exceptions for retiring at full rate before age 64

After or before the pension reform, the following cases allow employees to retire before the legal retirement age. Here they are :

People who complete the long career scheme

As the name suggests, these are individuals who started working very early . As a general rule, these people have completed a contributory insurance period, 5 quarters before the end of these 20 years. Therefore, those who started working before age 16 can leave from the age of 58. For those who start between 16 and 18, they will leave at 60, and 62 for those who started at 18 and 20 .

People with disabilities or incapacity

Disabled people can leave two years before the legal age . If we refer to the age enacted by the pension reform, they can leave at 62 . Victims of accidents at work or occupational diseases can benefit from this reduction also.

Civil servants in active categories

Given the arduous nature of the jobs of police officers, firefighters, prison guards, air traffic controllers and the military, they have the right to leave before the legal age . Depending on the case, these civil servants can leave 5 or even 10 years before the legal age of common law.

The grandfather clause

This is a clause that concerns certain workers in the special scheme such as the RATP or the EDF. The employees who are hired before the pension reform will not be affected by the new legal departure date. This will allow them to retire at age 62 , which is the current effective date.

Here, even if the legal date is 64 years old, some cases may allow you to leave before . If ever, exceeding this deadline, you do not fill in the numbers of quarters , you will receive a full pension at age 67.

Source : Tf1info