2024-08-08 18:40:15
How much did the end-of-career agreement signed at SNCF on April 22 cost, taking into account the pension reform and the extension of the statutory retirement age to 64? The answer lies in the group’s semi-annual financial report published on its website on July 29. According to accounting rules, SNCF must fully honour this commitment made to its employees. The costs total 758 million euros. This amount corresponds to “Actuarial liabilities related to the costs of rights acquired by employees for early cessation of activity and end-of-career part-time work as of June 30, 2024”explains the document.
With the 2024 system replacing the 2008 system, SNCF is able to take over the €277 million clauses already established in the old agreement. This reduces the net costs to €481 million. At the end of April, SNCF CEO Jean-Pierre Farandou estimated annual revenues at €35 million and a wage bill of €10 billion. “We plan to spend 35 million euros per year”Laurent Trévisani, deputy general manager for strategy and finance, pointed out that the grant covers the costs that must be paid over the next thirty to forty years.
The total amount is 481 million euros to allow railway workers to stop working early. According to the agreement signed by all unions on April 22, controllers will be able to retire 18 months early and receive 75% of their salary (that is, about 50% of their remuneration, including “bonuses in circulation”).
Under the same conditions, drivers, switchmen or railway workers who work in difficult jobs (especially in maintenance workshops) will be able to give up their jobs twelve to fifteen months in advance. Employees with fifteen years of service, without any hardship, will be able to stop working nine months in advance and keep 75% of their salary. They can also choose to work part-time, their salary will increase by 10%, and the company will cover the contribution of 100% of their salary.
Reducing Debt
According to SNCF’s financial reports, only a minority of employees use it: only 5% work part-time at the end of their careers, and more (10% to 40%) for difficult positions. “We have 91,000 agents and they have a very heavy workload. 70% of the rail workers do maintenance work on trains at night so that the equipment can run during the day.”recalls Laurent Trévisani in particular. After the pension reform, the State asked Mr. Farandou to commit himself to the professional development of a difficult profession.
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