PENSION INCREASE 2022. Agirc-Arrco supplementary pensions increased by 5.12% on November 1st. How much does this represent on the pension? What if you haven’t received anything? We take stock.
[Mis à jour le 8 novembre 2022 à 08h09] Since 1 November 2022the Agirc-Arrco supplementary pensions were revalued by 5,12%. A decision taken during the last Board of Directors of the plan, last October. This increase comes in a delicate economic context, marked by very high inflation (6.2% in October over one year). The service value of the point goes from 1.2841 euro to 1,3498 euro. But then, how much can this represent on your total pension? What gain can be drawn, each month, from this increase? Here are three concrete examples:
- Supplementary pension of 500 euros: +25.60 euros /month
- Supplementary pension of 700 euros: +35.84 euros /month
- Supplementary pension of 1,000 euros: +51.20 euros /month
Only small problem, some retirees have still not received anything. So, two explanations can be valid. The first concerns your bank’s processing times. Indeed, from one establishment to another, it can vary quite widely. So have no fear. The transfer should arrive in your account at the beginning of next week, before November 10th. Then, it is possible that you simply do not perceive any additional. Agirc-Arrco concerns all employees in the private sector paying pension contributions, regardless of whether they work in commerce, industry, services or agriculture. If you do not contribute to it, you cannot claim the revaluation. Remember that from the January 1, 2023will take place the new increase in basic pensionof 0,8% after the two successive increases of 1% and 4% in January and July 2022.
The rules for increasing supplementary pensions (Agirc-Arrco, for example) differ from those for basic pensions. These supplementary pensions are calculated from the number of points acquired during the career, to which a value of the point is multiplied. Then, the social partners decide on a possible revaluation of the value of this point.
In an attempt to compensate for the galloping inflation observed in recent months, supplementary retirement pensions will increase by 5,12% from the 1 November 2022. A decision taken during the Board of Directors of Agirc-Arrco, on October 6 in the presence of employers’ organizations and trade unions. The service value of the Agirc-Arrco point will be set at 1,3498 euros, against 1.2841 euros currently. The cost of this system is estimated at 4.5 billion euros over one year. This increase was decided on the basis of a change in the average salary of +4.82%, to which is added a catch-up of +0.1% in respect of inflation observed in 2021, the social partners have decided to grant the Board of Directors additional leeway of +0.2%, compatible with the plan’s financial trajectory.
After successive increases of 1% in January 2022, then 4% last July (+60 euros per month for a pension of 1,200 euros), retirement pensions under the basic scheme will experience a further increase in January 2023.
The increase should be around 0,8%, as included in the Social Security financing bill. Complementary items will increase by 5,12% on November 1. The government’s objective being to index the rise in pensions to the rise in inflation, measured at 6,2% in October over one year, and which should exceed 5,3% on average over the whole of 2022. With the three successive increases, the increase in pensions could then offset inflation. Here is the full schedule:
- September 9, 2022 : 4% increase for pensions from the basic scheme
- September 28, 2022 : 4% increase for retirees from the State civil service
- September 29, 2022 : 4% increase for retirees from the hospital public service
- 1 November 2022 : increase of 5.12% for complementary Agirc-Arrco
- January 1, 2023 : increase of 0.8% for pensions from the basic scheme
Starting the January 1, 2023them basic pension will already see their third increase in a year. This time, the increase should reach 0,8%. With the latter, the government intends to index pensions to inflation (more than 5% on average over the year 2022). As a reminder, this year, pensions have already increased by 1% in January, and by 4% in July. This new measure in favor of purchasing power concerns 14 million seniors. The retirees concerned are those affiliated with:
- CNAV (national pension fund)
- CNRACL (national fund of local authority agents)
- SRE (state pension service)
- CNAVPL (national old-age insurance fund for the liberal professions).
This increase in pensions concerns all the basic schemes! In other words, the retirement of proper rightthe pensions of reversionthe beneficiaries of theBLADE as well as theBUT.
The overall retirement pension for civil servants consists mainly of the basic pension. A supplementary scheme, the “additional public service pension (RAFP)” also exists, but is not affected by the revaluation of retirement pensions. The 4% increase in basic pensions depends on the public service to which you belong.
For the former civil servantswhich come under the SRE, the increase will occur end of October (you will receive for example 20 euros for July + 20 euros for August + 20 euros for September). For the hospital civil servants and local authorities, under the CNRACL, the retroactive payment of July 1 and August takes place end of Septemberat the same time as the pension increased by 4% corresponding to the month of September.