It had been an open secret since mid-November and the publication of the final inflation data but Bercy had never confirmed that the annual revaluation would be 5.3% and not 5.2% as announced at the end of September . Good news: Pension Insurance formalizes the 5.3% increase for basic pensions from January 2024.
From January 1, 2024, your general pension is increased by 5.3%. To cope with the evolution of consumer prices (excluding tobacco), a new revaluation has been decided, it amounts to 5.3% and will be effective from January 1, 2024. Retirement insurance (Cnav in Ile-De- France and Carsat in the other regions) finally formalized the annual revaluation of basic pensions.
This year, the announcement of this increase followed an unusual pace, because the Minister of Economy and Finance Bruno Le Maire chose to announce a boost of 5.2% from the end of September, the time to present the initial version of the 2024 budget. The forecast then effectively led to an increase of 5.2%. But the annual revaluation of basic pensions follows a regulatory formula, linked to inflation data running over two years, and the increase is stopped once the price increase measured by INSEE in October is known. In mid-November, in the light of final data from INSEE, the calculation formula finally gave 5.3%, a little better than Bercy’s forecast. While awaiting confirmation, hesitation set in… even if it was certain that the increase would indeed be 5.3%.
Retirement: How much will my pension ultimately increase on January 1, 2024?
An increase visible on Friday February 9 only
Now it’s official: your basic pensions are increasing by 5.3%. The increase applies to the basic pension for the month of January, which will be paid on February 9. Your December pension paid on January 9 will be the same as that you received in recent months.
This increase applies to all basic schemes: State Pension Service (SRE) and the National Pension Fund for Local Authority Agents (CNRACL) for former civil servants and public agents… For the moment, the only other funds to have made it official are the MSA and the special regime of the National Retirement Fund for Electricity and Gas Industries (CNIEG): From January 1, 2024, retirement and survivor’s pensions will increase by 5.3% . This increase will apply to your January pension, payment of which will be made on January 2, 2024.
Minimum old age: +5.3% also in 2024
The solidarity allowance for the elderly (Aspa), or minimum old age, is also revalued at the rate of basic pensions, therefore 5.3% on January 1, 2024, just like the survivor’s pension or the widow’s allowance.