The pensions Agirc-Arrco will be uprated in November, at least as inflation. As for the famous malus, he is reformed, but at the margin only.

when the big bang for the retreats ? A priori, not before 2025, the date of the entry into force of the reform in preparation remains announced. By then, some changes could take place, however, already for the additional employees. A recent agreement concluded by the trade union and employer organizations who are guiding the Agirc-Arrco has just set the new adjustment formula, and to amend the new device from malus.

pension uprated at least, as inflation

Main new feature : the pensions Agirc-Arrco will climb as much as the inflation until 2022. Better, the plan board may each year decide to grant up to 0.2 percentage point of additional increase, if the finances allow it. And as always, a catch-up adjustment will be recorded in case of under-estimation of the inflation in the previous year.

“Note, that the measure, which guarantees the maintenance of purchasing power for four years, applies to more than 12 million retirees, regardless of the amount of their pension”, said Pascale Cotton, of the CFTC.

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A what increase expect on the 1st of November ? The decision will be taken in the fall on the basis of the forecast for the development of the index of consumer prices excluding tobacco for 2019, published by Insee in June. This should be more than 1 % (in the budgetary laws by the end of 2018, the government was forecasting 1.3 %). Finished, therefore, the years of gel or under-indexation, revaluation 2019 is expected to be one of the highest of the decade.

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there are Two exceptions. If inflation is rising faster than the average annual wage per head (SMTP) of the contributors to the plan, pensions would rise, not as the price but as the average wage, which is unlikely. And the formula would be reviewed if it was to bring the plan to no longer have in reserves, the equivalent of six months of pension, 15 years. What about after 2022 ? The pensions would be indexed on the evolution of the average wage, less 1,16 point. A calculation is slightly less favourable.

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The penalty, slightly softened

Since the beginning of 2019, the employees taking their pension at the full rate maintain 10 % allowance provisional pension Agirc-Arrco for three years. Unless they agree to postpone their departure for a year. The penalty is divided by two for those subject to the reduced rate of CSG 3.8 %. And does not apply to retirees exempt from CSG in respect of income very modest. Among other cases of exemption are the caregivers, the departures for disabilities, disabilities in the workplace and the permanent disabilities of at least 50 %.

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With this agreement, the list of exemptions goes on. Will also be concerned with the beneficiaries of the allocation disabled adult (AAH) or a disability pension (2nd or 3rd class, the individuals of which the rate of permanent disability related to a work accident or an occupational disease amounts to at least 20% and the unemployed at the end of the rights relating to the allowance of specific solidarity. If you are in one of the last two cases and that you have already liquidated your pension with a penalty, you have until the end of 2019 to request its cancellation.

How many extra people will be thus exempt from the deduction ? No estimate of precise values does not seem to have been realized. According to labour Force, there is a shift of approximately 50 % of employees today exempted to 60 %. An estimate that appears exaggerated to Serge Lavagna, national secretary, CFE-CGC : “Among the four categories of newly exempt, many were probably already under their low income”.

The plan’s performance affected

Reverse of the medal : a further decrease in the performance Agirc-Arrco is programmed, since the purchase value of the point (the contribution necessary to “buy” a point) is expected to increase by 2022, faster than the value of the service (the annual pension to which a point gives the right). The service value of the point will indeed be upgraded, as the inflation, while the value of purchase will be according to the evolution of the average wage, usually higher.

Result : this performance is expected to fall to around 6% in 2018 5.65 % four years later, says Serge Lavagna. A yield of 6 % means that for one euro contribution, you will get 6 cents of annual pension. In other words, the plan will “render” your euro at the end of 16.7 years of retirement (100/6).

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at the CFDT, we prefer to see the glass half full. “Since 2016, the method of revaluation of the purchase value of the item was more negative even as it added 2% to the evolution of the average wage,” says Frédéric Sap. Indexing the purchase value of the point on inflation, as its value of service, “would not have been financially unsustainable for the regime,” says he, stating that the formula actée guarantee at least to the contributors whose salary is changing as the average wage gain in the coming years, always the same number of points.

malus ultra-political to the Medef

The agreement which the social partners have resulted orally on may 10, after four and a half months of negotiations has been approved already by the employers ‘ organisations, as well as by the CFDT, CFTC and Force ouvrière, thus opening the door to its application. The CFE-CGC will be a priori also a signatory. But not the CGT.

“It is primarily for the guarantee of the maintenance of the purchasing power of retirees over the next four years as labour Force sign”, says Philippe Pihet. Fu as for the CFDT, it is also estimated that the easing of the penalty, however small, weighs symbolically. “The Medef implicitly recognizes that imposing a penalty to someone who may not prolong his activity is a non-sense,” says Frédéric Sap, of the CFDT, demanded that all unemployed should be relieved, not only for rights.

The majority of the trade unions hoped that the Medef loose more weight during the negotiation, by reducing the duration of the penalty to two years or its rate to 8 %. A categorical refusal. A passionate advocate of a decline of the legal age of departure in the framework of the comprehensive reform of pensions, the employers ‘ organisation that defends tooth and nail the measure which it has imposed on unions in 2015 to open a first breach in the possibility of retirement to 62 years without a haircut. It was hard to imagine that he yielded on this point, as long as the government has not disclosed its cards.

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A question is now on everyone’s lips : the Medef accepting it to re-open negotiations on the penalty as soon as 2020, as provided by some of the actors union, when the political pressure related to the pension reform will be passed and the penalty has been experienced at least a whole year ?