Were you born between September 1961 and the end of 1963? And you are one of the people eligible for the former (or rather current) early departure for long career at age 60, for having started working before the age of 20? A senatorial amendment changes the game and sows trouble, concerning you. Update on what we know at this stage, pending the future application decree dedicated to long careers.
Questions from Aigles3, Henri, Sylvie, Wakta, 2Did29…
I contributed 8 quarters before 20 years. At what age can I retire with the reform? I was born in March 1963.
Does this amendment only concern people who have already acquired their right to retirement before September 1, 2023? (…) Or also the people born in 1962 and 1963 who had to leave for long career retirement after the entry into force of the law?
I was born in October 1963 (…) I am in a long career. I can leave on November 1, 2023 60 years old?
Will people born after September 1, 1963 have an additional quarter to contribute?
Impossible to summarize all the questions from readers on long careers for the 1962 and 1963 generations, so numerous, diverse and varied, following the publication of the article below dedicated to a senatorial amendment integrated into the final version of the text and which targets the 1962 and 1963 generations. Also impossible to answer individually. So here are the elements to retain.
Long career. Ns in 1962 or 1963? This subtlety that allows you to escape the pension reform
What the amendment says
Without repeating what MoneyVox has already detailed in the article linked above, the Renaissance senators (and the government, since it took up this amendment in the text adopted via 49.3) made the following promise with this measure: allow the insured in 1962 and 1963 to always be able retire early for long careers according to current conditionswith a full rate pension.
Important clarification: this intention only appears in the commentary to the amendment. The latter has indeed been incorporated into the final text of the future law, the entry into force of which is scheduled for September 1, unless the Constitutional Council censures or otherwise reverses the situation. But the text retained in the bill systematically refers to a decree. Clearly, this amendment prepares the legislative ground for a future application decree, which will detail the precise methods…
Does the government confirm the exception of the 1962 and 1963 generations for long careers?
Yes. Solicited by MoneyVox, the Minister of Labor repeats that this is a coordination amendment. Its objective is, according to the government, to avoid a reduction in special cases, which have rights open before September 1, 2023: Due to the acceleration of the so-called “Touraine” calendar, certain eligible long careers may leave before September 1, 2023 could be forced to postpone if they do not liquidate before this date. We have planned that their departure remains possible after September 1st (this is regulatory), but in the absence of legislative measures, they would have a discount. This amendment aims to ensure that they have the full rate.
In short: to avoid any collateral effect for those who can theoretically leave at age 60 for a long career (therefore in the case of those who have validated 4 or 5 trimesters before age 20) before the entry into force of the reform on September 1, 2023… but who would only assert this right after this date. For example, time to meet all the necessary quarters.
Long career: what changes the final text of the pension reform
How many quarters are required for you to leave full rate at age 60?
This early departure would take place without a discount, under the conditions of the Touraine calendar. To date, the 1962 and 1963 generations only need 168 quartersin the sense of long career quarterstherefore in a more restrictive sense than for the calculation of the full rate pension.
In theory, in the initial version of the bill, it would have taken 169 quarters for the 1962 generation and 170 quarters for the 1963 generation to leave early. Problem: a person born in 1962 is already over 60 and may, in fact, have already exercised his rights to early retirement. The same for a person born at the beginning of 1963. But some may have a slightly choppy career and reach 168 quarters at the end of 2023.
The purpose of this amendment is to prevent them from having to contribute one or two more quarters for not having exercised their pension rights from the age of 60. Or that they are given a discount a few months after their retirement.
Points remaining to be clarified…
The Minister of Labor has not, at this stage, provided any further information than that listed above. So there are still ambiguities. Why not have written that the reform does not apply to long careers born before September 1, 1963?, asks Claude Wagner, for example, of the CFDT-Retraits.
More specifically, Pascale Gauthier, a partner at the consulting firm Novelvy Retraite, wonders about the distinction between full rate and full career. The information available at this stage suggests that the reform provides for an exception for the full rate for the 1962 and 1963 generations with long careers… but not for full careers. These generations would be exceptionally eligible for the long career with a period of insurance less than the required period (post reform).
What has changed? The withdrawals concerned will still see their basic pension reduced due to the less favorable proration, underlines Pascale Gauthier. In short: you can leave in advance with your 168 quarters, without discount (actually full rate)… but with a duration of insurance taken into account in the calculation of the basic pension very slightly lower than that of the full career. This would slightly reduce the pension.
Attention: the application decree not having been published (and perhaps not yet drafted), these analyzes remain suppositions.
Departures currently frozen…
Currently, all long-career certificate applications and long-career early retirement applications from our clients are frozen, testifies Marilyn Vilardebo, president and founder of Origami & Co, a company specializing in auditing pension rights. The funds no longer process these requests while waiting for the decrees and the circular.
Were you born after September 1, 1963? Will you really take advantage of this exception?
Not sure… The reason for the planned measure is not to penalize those who could leave for a long career before September 1, 2023, notes the firm Novelvy Retraite. However, insured persons born on or after September 1, 1963 will not have reached the age of 60 before September 1.
Asked about this specific point by MoneyVox, the Minister of Labor did not respond. So how many quarters required for the end of 1963? 168, 169 or 170? Suspense, pending the publication of the decree…
Will you be able to benefit from a long career start for having started working before the age of 21?
Unless there is a political or constitutional surprise, the reform will come into force on September 1, 2023. Unless otherwise indicated in the famous long career decree, the new age limit of 21 years will be in force.
| departure 63 years old | departure 62 years old | departure 60 years | departure 58 years old | |
|---|---|---|---|---|
| You are n… | You must have validated, before the end of the year of your 21 years old… | You must have validated, before the end of the year of your 20 years… | You must have validated, before the end of the year of your 18 years… | You must have validated, |
| Between January and September | 5 quarters | 5 quarters | 5 quarters | 5 quarters |
| Between October and December | 4 quarters | 4 quarters | 4 quarters | 4 quarters |
So a person born in 1962, who has contributed the required quarters before the end of 1983, and who wants to leave his 63 years in 2025 will be able to do so provided he has contributed the required quarters. Probably 169. But in this specific example, the interest is low… Because the legal starting age will be 62 and a half for the 1962 generation.
Pension reform: here is the new version of the official simulator to find out your starting age
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.
Retirement savings plan: to prepare for retirement by reducing your taxes