2024 Retirement Pension Increases in France: What You Need to Know

2024 Retirement Pension Increases in France: What You Need to Know

2024-03-04 11:42:41

To cope with changes in inflation in France, retirement pensions are frequently reevaluated. In February, price increases fell to 2.9% according to the latest data from INSEE. As for retirement pensions, several changes are also on the cards.

First, basic pensions were increased to 5.3% on January 1. In total, 14 million retirees affiliated to organizations such as Cnav (National Old Age Insurance Fund) benefited from this increase in pensions received in February. For example, a retiree whose basic pension was 1,000 euros per month in 2023 received 1,053 euros in February, or 53 euros more each month. In addition to basic pensions, supplementary pensions are also affected by changes.

Changes to supplementary pensions

First, the supplementary pension for former civil service contract workers was increased to 5.3% on January 1. Then, the supplementary pensions of the Agirc-Arrco regime underwent a readjustment according to the rate of generalized social contribution (CSG). In fact, retirees whose CSG rate increased in 2024 receive a lower pension than they usually receive. On the other hand, for retirees whose CSG rate has fallen, the pension for the month of March is higher than that usually received.

Same observation for the Old Age Insurance Fund for accountants and auditors (Cavec). The contributed point has, in fact, increased to 1.3450 euros in 2024, an increase of 6.14%. As for former self-employed workers, the Cipav supplementary retirement pension was increased by 4.3% on January 1. Finally, the solidarity allowance for the elderly (Aspa) was also increased by 5.3% last January. Consequently, the pension received by a single person increases to 1,012 euros, that of a couple increases to 1,571 euros per month.

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