2022 RETIREMENT INCREASE. As part of the purchasing power law, the amount of retirement pensions has been increased by 4%. What date for payment? Gain, additional… We tell you everything.
[Mis à jour le 23 août 2022 à 09h11] Still a little patience, the payment of your retirement pension including the 4% increase is approaching! Indeed, within the framework of the purchasing power law, the executive announced a revaluation of basic retirement pensions to fight against galloping inflation (6.1% in July over twelve rolling months). Unfortunately for many concerned, the payment has been delayed. The new date is set for September 9, 2022, with retroactive effect to July 1 to catch up with this famous month of July. For each pensioner, the increase should correspond to a gain of approximately 45 euros each month, for a basic pension of 1,200 euros.
Please note that not all retirees can benefit from this revaluation. It concerns only basic pensions, supplementary type Agirc Arrco or Ircantec are excluded. The pension insurance specifies however that “the date on which this revaluation will be visible on your pension is not known to date because it will depend on the timetable for the adoption of the bill by Parliament” on its website. Rest assured, the text was indeed voted by Parliament on Wednesday August 3, 2022 as part of the purchasing power law, but the article must still be published in the Official Journal to come into full effect. So, a little more patience for the millions of retirees concerned, the deadline is approaching. Date, amount of the increase, additional and civil servants… Find out all the details of this pension increase in our dedicated article below.
The increase in pensions is effective from Friday July 1, 2022. De facto, the very first visible increase in retirement pensions should be visible during the first payment, the following month, namely the August 9, 2022, a date announced by the Minister of Labor Olivier Dussopt in early June. “We want this indexation to inflation to be valid for pensions in July. Under the general scheme, the pension for July is paid on August 9,” he explained then. A retroactive effect to July 1 should be applied. Finally, the pension insurance informed of a delay in the payment of this increase which will not be able to intervene on the payment of August 9. For the time being, nothing is certain yet, but the first installment could finally take place during the month of September, probably on September 9. A hard blow for the many beneficiaries.
Civil servants, employees of the private sector… 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 successive increases in the amount of retirement pensions (1% in January 2022 et 4% in July 2022) represent a cumulative increase of about 60 euros for a retirement pension equal to 1 200 euros according to Prime Minister Elisabeth Borne who gave this figure during an interview with France Bleu on June 7, 2022.
Be careful, however, it is not the exact amount that will be displayed on your total pension since remember that this increase only concerns basic retirement pensions, excluding supplementary ones. However, the average in France for basic pensions is 704 euros according to the statement of the National Pension Insurance Fund, the CNAV. If we take this figure, the 4% gain expected this summer represents an increase of 28 euros per month. For a pension of 1,200 euros, the increase amounts to 45 euros monthly.
The 4% increase results from the inflation that has been affecting France for several months. It is therefore an “alignment” with inflation to help combat the loss of purchasing power. However, this decision is a significant development compared to the policy deployed by governments in recent years. For 10 years, retirement pensions were no longer indexed to inflation despite its inclusion in the Social Security Code, resulting in a loss of purchasing power of more than 10% in 10 years according to the orientation council of retreats. However, this 4% increase should not completely satisfy several pensioner unions who were demanding an increase of at least 4.5%, with retroactive effect from January 1.
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.
Generally, these pensions are increased every year on November 1st. In 2021, the value of the Agirc-Arrco point was revalued by 1%. It therefore went from 1.2714 euros to 1.2841 euros. Regarding these supplementary pensions, the Minister of the Economy Bruno Le Maire was clear: “It is up to the social partners to upgrade supplementary pensions. We will increase the basic pensions.” So, a little more patience to know the next revaluation of the index point! But in all likelihood, the rise in supplementary pensions is expected to be announced in early October 2022. For additional Agirc Arrcothe social partners will meet on October 6, 2022 during a board meeting to formalize the service value of the point, and therefore, the increase in supplementary pensions from 1 November 2022. Last year, the negotiations initiated by the social partners led to an amendment to the 2019 agreement. less 0,5 point instead of 0.2 points to determine the development of supplementary retirement pensions in relation to the level of inflation.
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 increase in retirement pensions for civil servants should therefore be the same as for other employees.