Full pension rate: amount, civil servant, supplementary
Here’s how to know the amount of your full pension at age 67 and the number of quarters you need to have to hope to receive a large pension.
That’s it, pension reform has been validated. The bill, which continues to make people talk, will come into force on September 1. The legal retirement age will gradually increase from 62 to 64 by 2030. Only a few million pensioners will be affected by this reform. ” pension funds are fully mobilized to implement the reform on September 1 and ensure that retirees are properly informed” as well as the services of the Ministry of Labour, announced Minister Olivier Dussopt.
As a reminder, people who entered the world of work very young have the right to leave earlier: this is called the long careers. It was extended to people who started working between the ages of 15 and 16 for early departure at age 58. People who started working between the ages of 16 and 18 can leave at age 60 and those who entered the labor market between the ages of 18 and 19 will be able to retire at 62.
For people recognized as permanently incapacitated or disabled, it will be possible to retire at full rate from the age of 62. However, the conditions for receiving the full automatic retirement at age 67 remains unchanged.
What is full pension?
To qualify for a full pension, you must either have a specific number of quarters of pension insurance, or retire at age 67. The number of quarters of pension insurance required to be entitled to a full pension varies according to your year of birth. You are automatically entitled to a full pension at age 67, even if you do not have the required number of quarters of pension insurance.
If you retire before age 67, without having the required number of quarters of pension insurance, your retirement pension is reduced according to the number of quarters you are missing.
This reduction is called the next to. Thus, a full-rate pension is a pension granted without a discount. There are 2 ways to get a full pension:
- Either have the number of quarters of pension insurance required according to your year of birth
- Or retire at age 67
If you have worked under other statuses than salaried (public official, self-employed, etc.) and you have contributed to several pension funds, it is your total duration of insurance, all schemes combined, which is taken into account. to determine whether or not you are entitled to retirement pensions at full rate.
However, in certain cases, even if you do not meet one of these two conditions, your pension is not subject to a discount. Thus, you are entitled to a full pension at age 65, regardless of your number of quarters of pension insurance, if you find yourself in one of the following situations:
- You have stopped working for at least 30 consecutive months to help a disabled person, as a family caregiver or a third person, to perform the ordinary and essential acts of life
- You have provided effective assistance for at least 30 months to your disabled child receiving human aid from the disability compensation benefit (PCH)
- You are entitled to 1 quarter of insurance increase (i.e. 1 quarter of free additional pension insurance without contribution in return) for disabled children
- You receive the early termination of activity allowance for asbestos workers (Acaata)
You are entitled to a full pension at age 62, regardless of your number of quarters of pension insurance, if you find yourself in one of the following situations:
- You receive a disability pension from Social Security
- You are unfit for work, i.e. you are suffering from a medically certified permanent incapacity for work of 50%
- You are disabled and have a permanent disability rate of at least 50%
- You are a mother, have raised at least 3 children, exercised manual labor and at least 120 quarters of pension insurance
You are entitled to a full pension before age 62 if you meet the conditions to be entitled to early retirement for a long career or for disability or permanent incapacity.
When do we reach the full rate?
The number of quarters of pension insurance required to be entitled to a full pension varies according to your year of birth. If you were born in 1955, 1956 and 1957, you will need 166 quarters of insurance (41 years 6 months); if you were born in 1958, 1959 and 1960, you will be required a total of 167 trimesters (41 years 9 months). For people born in 1961, 1962 and 1963, it will take 168 trimesters (42 years).
People born in 1964, 1965, 1966 will reach the full rate with 169 quarters of insurance (42 years 3 months), those born in 1967, 1968 and 1969 with 170 quarters (ie 42 years and 6 months); those born in 1970, 1971, 1972 with 171 quarters of insurance (42 years 9 months) and finally people born from 1973 with 172 quarters (43 years), according to the site Public service.
Why is the full rate 50%?
The amount of your basic pension from Social Security pension insurance depends in particular on the average of your gross salaries for your best 25 years. When the pension is granted at the full rate, your retirement pension is calculated on the basis of 50% of this average annual gross salary.
Quarterly full rate pension
On the other hand, if you retire before age 67 without having the required number of quarters of pension insurance, the rate of 50% is reduced by 0.625 per missing quarter. So if you retire before age 67 without having the required number of quarters of pension insurance, the rate that is applied to your average gross annual salary is as follows:
1 quarter missing – Retirement rate: 49.375%
2 quarters missing – Retirement rate: 48.750%
3 missing quarters – Retirement rate: 48.125%
4 missing quarters – Retirement rate: 47.500%
5 missing quarters – Retirement rate: 46.875%
6 quarters missing – Retirement rate: 46.250%
7 missing quarters – Retirement rate: 45.625%
8 missing quarters – Retirement rate: 45.000%
9 missing quarters – Retirement rate: 44.375%
10 missing quarters – Retirement rate: 43.750%
11 missing quarters – Retirement rate: 43.125%
12 missing quarters – Retirement rate: 42.500%
13 missing quarters – Retirement rate: 41.875%
14 missing quarters – Retirement rate: 41.250%
15 missing quarters – Retirement rate: 40.625%
16 missing quarters – Retirement rate: 40.000%
17 missing quarters – Retirement rate: 39.375%
18 missing quarters – Retirement rate: 38.750%
19 missing quarters – Retirement rate: 38.125%
20 or more missing quarters – Retirement rate: 37.500%
To determine the number of missing quarters applied to you, Retirement Insurance compares the following 2 numbers:
- Number of quarters missing between your age on the date of your retirement and your 67 years of age
- Number of quarters missing between your number of quarters on the date of your retirement and the number of quarters required according to your year of birth
The number of quarters obtained is rounded up. The most advantageous number of missing quarters is retained.
You can view your career statement on the Retirement Info site from your retirement account. Your career statement gives a chronological summary of all your different professional periods. You can print and download your career statement in PDF format.
From the age of 55, you can report any anomalies in your career statement to your pension plans and ask for it to be corrected: missing job, inconsistency, etc. Your pension funds are directly informed. You can then follow their treatment on your retirement account.
From your retirement account, you can also perform a simulation of the amount of your retirement at different ages, based on known data from your pension funds.
Retirement bonus: what is the amount of this compensation? Is it taxable? https://t.co/7buGk8XjIR
— Full Life (@full_life) April 24, 2023
