The pension reform has one main objective: to push you to work longer. Not only is the legal age gradually falling from 62 to 64, but the number of quarters claimed to obtain a pension calculated at the full rate is also increasing little by little. And if you had already chosen to leave at age 64, or even 67, would you gain or lose in monthly pension?
Are you looking to estimate the amount of your future retirement pension after application of the reform? For the time being, the most reliable and best known of all simulators, the official tool My retirement estimate on Info-Retraite.fr, is not yet up to date with the new features of the reform coming into force on September 1, 2023. It only offers you pre-reform results. For this official simulator, we will have to wait until June.
Pension reform: here are 4 official simulators to estimate your pension and your starting age
Until then, how to get an idea? Fintech Sapiendo prides itself on being the first market player to offer a simulator (1) offering an up-to-date pension calculation of the new features of the pension reform. Of which act. MoneyVox requested this platform to submit 5 standard profiles and compare pension amounts before and after application of the reform: two executives, including a woman with 3 children, a future small pension currently working part-time, and two eligible to leave for a long career.
Profile 1 – A 53-year-old executive
- Markborn January 3, 1970.
- Early career at 24 due to studies, but uninterrupted career.
- Current salary: 3000euros monthly, net.
| BEFORE reform | APRS reform | |
|---|---|---|
| Net monthly salary current | 3000 | |
| Her future retirementmonthly net If he retires 64 years old | 1829 | 1798 |
| If he retires 67 years old | 2288 | 2288 |
Simulations made by Sapiendo. Total pension: basic pension + supplementary pension.
Detailed profile: man, born January 3, 1970, married then divorced, bac +4, net salary of 36,000 per year, stable between today and retirement.
Marc started his career late, aged 24. For his generation, that of the 1970s, it will take 43 years to obtain the full rate. So reach 67, the age of the famous automatic full rate. A late start to his career which explains a pension equivalent to Marc’s 67 years before or after the reform.
And in the new legal age, 64? Before and after the reform, retiring at age 64 does not allow Marc to obtain the full rate, resulting in a much lower amount than that estimated for his 67-year-old. But this age, it will be even further from the full rate after than before the reform. Result: a discount higher with the reform, which explains a slightly lower pension at age 64 after the reform.
If I leave at 64 with a discount… Will it be erased at 67 or not?
Profile 2 – A 43-year-old executive, mother of 3 children
- Yasmineborn March 8, 1980.
- Beginning of career 22 years old, uninterrupted career, 3 children.
- Current salary: 3000euros monthly, net.
| BEFORE reform | APRS reform | |
|---|---|---|
| Net monthly salary current | 3000 | |
| Her future retirementmonthly net If she retires 64 years old | 2614 | 2526 |
| If she retires 67 years old | 3005 | 2915 |
Simulations made by Sapiendo. Total pension: basic pension + supplementary pension.
Detailed profile: female, born March 8, 1980, married, bac +2, net salary of 36,000 per year, stable between today and retirement.
Yasmine has 3 children and therefore automatically benefits from a 10% increase, a boost valid both on his basic pension and on his complementary Agirc-Arrco. Despite Marc’s similar income, by simulating constant income in both cases until retirement, Yasmina will have a larger retirement than Marc.
But why are his estimated pensions lower after the reform? If we leave at the same age, before / after the reform, the pension will theoretically be lower, explains Valrie Batigne, founder of Sapiendo, who carried out these simulations. But the whole objective of the reform is to make people leave later, and not at the same age! However, if you contribute longer, thanks to the points of the complementary, you necessarily receive a higher pension. The amount of the basic plan pension, based on the average of the best 25 years, is not strictly proportional to the number of years of work. On the other hand, the complementary is on a different logic of calculation: the more one contributes, the more one has pension.
The whole objective of the reform is to make people leave later, and not at the same age!
Profile 3 – A 56-year-old employee eligible for a long career
- Jean Yvesborn December 12, 1966.
- Eligible for the long career (5 terms before the end of the 20 year year), uninterrupted career, 2 children.
- Current salary: 1500euros monthly, net.
| BEFORE reform | APRS reform | |
|---|---|---|
| Net monthly salary current | 1500 | |
| Her future retirementmonthly net If he retires 62 years old | 1123 | 1123 |
| If he retires 64 years old | 1236 | 1173 |
| If he retires 67 years old | 1408 | 1344 |
Simulations made by Sapiendo. Total pension: basic pension + supplementary pension.
Detailed profile: man, born on December 12, 1966, married, 2 children, baccalaureate, he started working before his 20th birthday, net salary of 18,000 per year stable between today and retirement.
Jean Yves is close to retirement, and he currently receives a modest salary, slightly above the minimum wage. In his case, leaving at age 62 without the reform, the current legal age… offers him the same pension (basic + additional) as if he leaves at the same age, 62, in advance for a long career starting before his 20s. years: 1123 euros in both cases.
In his case, working longer, after the full rate acquired precisely for his 62 years, will bring him more for his old age… but with the prospect of a slightly less strongly boosted pension afterwards.
The pension may be lower after reform in 2 cases, explains Valrie Batigne. First case: “I reached the full rate before age 64 before the reform and I therefore lose the surcharge at the base plan” [Jean-Yves est dans ce premier cas, NDLR]. Second case: I am missing trimesters at age 64 and the number of trimesters required has increased following the reform. In this second case, the discount will be greater after this reform [c’est le cas de Marc 64 ans, en profil 1, NDLR].
Long career: what will change with the pension reform
Profile 4 – A 57-year-old part-time employee under the minimum wage
- Sophiaborn September 5, 1965.
- Career begins at age 20 but career ax1 child.
- Current salary: 1100euros monthly, net, part-time
| BEFORE reform | APRS reform | |
|---|---|---|
| Net monthly salary current | 1100 | |
| Her future retirementmonthly net If she retires 63 years and 3 months | 586 | 578 |
| If she retires 64 years old | 626 | 618 |
| If she retires 67 years old | 804 | 794 |
Simulations made by Sapiendo. Total pension: basic pension + supplementary pension.
Detailed profile: woman born on September 5, 1965, married, 1 child, she started working before she was 20 but her career was choppy (150 quarters when she was 64), net salary of 13,200 per year stable between today and retirement.
Sophia is one of those who can hope for a small pension reviewed and corrected thanks to the reform. But… her career is cut short, which means that she does not take full advantage of the contributory minimum, the complex mechanism designed to support small pensions. The latter is calculated in proportion to the number of quarters contributed… and it does not benefit either from the major contributory minimum.
For the minimum contributory, you have to take stock with the statement in front of you!
Nothing is more complicated than the minimum contribution (MiCo)! recognizes Valrie Batigne. It all depends on the career. Really, you have to take stock with the career statement in front of you! Because you have the MiCo, the major MiCo… and the complementary one. Impossible to generalize.
Pension reform: what changes for small pensions from September 1
Profile 5 – A 59-year-old woman eligible for a long career
- Myriamborn September 12, 1963.
- Career begins before he is 20 years old.
- Current salary: 2000 euros monthly, net.
| BEFORE reform | APRS reform | |
|---|---|---|
| Net monthly salary current | 2000 | |
| His future retirement, net monthly If she leaves as soon as possible | 1327 Leaving in January 2024 60 years and 4 months | 1333 Leaving in July 2024 60 years and 10 months |
Simulations made by Sapiendo. Total pension: basic pension + supplementary pension.
Detailed profile: woman, born on September 12, 1963, married then divorced, bac +2, net salary of 24,000 per year (stable between today and retirement), she has 5 trimesters at the end of the year of her 20th birthday .
For this last profile, the MoneyVox editorial staff asked Sapiendo to compare the pension with the age of early departure, in a long career. Mechanically, by application of the reform, Myriam leaves 6 months later retirement… but will receive a few euros more each month, having a little more contributions.
At what age can I retire? *
| Legal retirement age ** | — |
| Number of terms required ** | — |
| automatic full rate ** | 67 years old |
* From 1er September 2023, the legal retirement age will be gradually raised by three months a year to reach 64 in 2030, compared to 62 today.
** Source: government pension reform project presented on January 10, 2023.
NB: This is a simplified simulator which presents the general cases. For a personalized simulation, go to the simulator of the retirement info site.
(1) Temporarily free but requires registration.