Each start of the year brings a breath of fresh air. Once is not customary, this year 2024 again, pension plans, basic and supplementaryhave planned several measures which will be implemented throughout the coming months. Current wife enlightens you on these adjustments to expect.
Basic retirement pensions revalued
As of January 1, 2024, basic pensions were revalued by 5.3%. “The aim is to protect all retirees against inflation“, explained the Minister of the Economy, Bruno Le Maire, in the columns of Parisian last September. If, at the time, the government planned a revaluation of 5.2%, this was ultimately increased because inflation turned out to be higher than expected. The retirees concerned saw this revaluation recorded on February 9, 2024, the day of payment of January pensions according to the annual calendar.
The revaluation of several allocations
Furthermore, the Retirement Insurance has specified that other benefits will see an increase of 5.3%, including the survivor’s pension, which thus sees its minimum increased to 324.79 euros per month for an insurance period of at least fifteen years. Also, the solidarity allowance for the elderly (Aspa) increased to 1,012.02 euros per month for a single person, and to 1,571.16 euros per month for a couple. The widow’s allowance and the solidarity allowance for old salaried workers, life support and allowance for mothers and the L.814-2 increase in the CSS have also been revalued. In the same vein, the increased and non-increased minimum contributory amount (MICO) is increased by 3.4%. Its amount is thus increased to 733.04 euros per month for the non-increased MICO, and to 876.14 euros per month for the increased MICO.
The combination of employment and retirement revisited
With the pension reform, the combination of employment and retirement is changing. Since January 1, 2024, retirees who benefit from full employment-retirement combination, whose pension has been paid at full rate from the legal age, can now benefit from a new Agirc-Arrco supplementary pension. These new points and rights are constituted within the limit of the annual Social Security ceiling, which, for the year 2023, has been set at 43,992 euros, or a monthly ceiling of 3,666 euros.
The revaluation of supplementary pensions
January 1, 2024 also marked the revaluation of certain supplementary pensions. Among them, the Supplementary Retirement Institution for non-permanent State and public sector employees (Ircantec) has revalued its pensions by 5.3%. Concerning the liberals, the interprofessional pension and old age insurance fund (Cipav) has increased its supplementary pensions of 4.3%. Finally, the supplementary pension for lawyers was revalued by 1%.
As for the 13 million private sector retirees, the annual revaluation of Agirc-Arrco takes place every November 1st. After the recent revaluation of 4.9% in November 2023, it will therefore be necessary wait until November 1, 2024 for the future increase.
The removal of the Agirc-Arrco penalty
With the pension reform which postpones the legal retirement age, the social partners of the Agirc-Arrco system have decided to remove the bonus/malus system. Implemented in 2019, this penalty, also called the solidarity coefficient, encouraged employees to work one year after the legal retirement age. Since December 1, the penalty has been eliminated for new retirees; in other words for people born after September 1, 1961 and those born before and who have not yet asserted their rights. For currently retired policyholders whose pension is reduced by 10%, the penalty will be deleted April 1, 2024. As for the bonus, it is maintained for people who postpone their departure for 2 to 4 years and who are not affected by the pension reform.