Retirement pensions are once again revalued. The 0.8% increase applicable since the beginning of the year will be visible on your January pension, paid from this Thursday, February 9.
Following the 4% revaluation in July 2022, retirement pensions are again revalued by 0.8% since January 1, 2023, under inflation, writes the Minister of Health and Solidarity in a press release issued at the beginning of January. This revaluation concerns the basic diets as well as survivor’s pensions.
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This comes as no surprise. The 0.8% increase appeared as early as October in the report of the Social Security Accounts Commission, appended to the Social Security financing bill for 2023, the autumn estimate therefore having you confirm. This increase is in fact automatic: the basic pension increases at the rate of inflation, according to a complex formula based on 2 years of consumer price index.
Why not more than 0.8%? Because the calculation takes into account the advance granted from last summer: +4%. This increase of 0.8% comes in addition. For a basic pension of 1000 euros, the increase will be 8 euros per month.
average inflation end of October* | Annual reset on January 1 | Early revaluation on July 1 | |
---|---|---|---|
2019 | 0.9% | 0.3% | – |
2020 | 0.2% | 0.3% (1% for pensions less than 2000) | – |
2021 | 0.4% | 0.4% | – |
2022 | 1.1% | 1.1% | 4% |
2023 | 4.8% | 0.8% | – |
* Measure of inflation used for the revaluation of basic pensions, ie the average over 12 months stopped in October of the year preceding the revaluation, compared to that of the 12 previous months.
Source: report of the Social Security Accounts Commission – results for 2021 and forecasts for 2022-2023
In fact, the cumulative increase (4.8%) is lower than the annual inflation for 2022, expected at 5.3%, and lower than the recent increase in the Agirc-Arrco supplementary pension (5.12% in November 2022).
This automatic increase affects the basic pensions of the cnav (National Old Age Insurance Fund), from ERS (State Pensions Service), the CNRACL (National Fund for Local Authority Agents) and the National Old-Age Insurance Fund for the Liberal Professions (CNAVPL).
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When will you receive your increased pension?
Nearly 15 million withdrawals receive a monthly pension from the basic general scheme, in other words the Cnav or the Retirement Insurance. Are you part of it? When will you benefit from this slight additional boost? The next installment comes this Monday, January 9, 2023… but we’ll have to wait another month.
Your pension is paid to you monthly at the end of the period for which it is due, recalls the Cnav. Clearly the pension due for January 2023 will be paid this Thursday, February 9, 2023.
Pension of the month… | Payment date |
---|---|
December 2022 | Monday, January 9, 2023 |
January 2023 | Thursday 9 February |
February 2023 | Thursday March 9 |
March 2023 | Thursday April 6 |
April 2023 | Tuesday, May 9 |
May 2023 | Friday, June 9 |
June 2023 | Friday July 7 |
July 2023 | Wednesday August 9 |
August 2023 | Friday, September 8 |
September 2023 | Monday, October 9 |
October 2023 | Thursday, November 9 |
November 2023 | Friday 8 December |
December 2023 | Tuesday, January 9, 2024 |
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The minimum old age also increases by 0.8%
In 2023, the Solidarity allowance for the elderly (ASPA), or minimum old age, is increased to 961.08 euros per month for single people (i.e. 44.3 euros more compared to January 2022) and 1492.08 euros per month for couples (i.e. 68.77 euros more than last January).
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