The increase in the minimum contribution becomes effective this Wednesday, October 9. 850,000 retirees who benefit from it will now receive almost 51 euros more per month.
Fruit of the negotiations during the last pension reform, the increase in small pensions becomes fully effective from this Wednesday, October 9.
At the beginning of September, the general director of the National Old Age Insurance Fund (CNAV) Renaud Villard indicated that the second wave of revaluation of “small pensions” planned as part of the pension reform would concern “850,000 people”.
“They will receive two types of payments: around September 25, the catch-up over one year of the increase that they should have received since September 1, 2023”, when the reform came into force. “And on October 9, their pension increased.”
Concretely, this is an increase in the minimum contributory amount (Mico) which allows retirees from the general Social Security old age insurance scheme who have contributed on low salaries to receive a minimum amount of basic pension. If your basic pension is lower, it is increased to the level of this minimum. The 2023 reform established that this amount must reach at least 85% of the net SMIC, for an employee who has completed a full career at the SMIC.
On September 25, Mico beneficiaries therefore received an average of 600 euros for the retroactivity of this revaluation over 12 months.
This Wednesday, October 9, it is therefore the monthly pension increased by 50.94 euros that the 850,000 retirees affected by this reform will receive.
The contributory minimum benefits policyholders who have contributed on low income throughout their career and who meet the conditions for a full pension. They must therefore have reached full retirement age, namely 67 years old. Or they may have reached the required minimum retirement age, i.e. between 62 and 64 depending on their year of birth, as well as having contributed the required number of quarters, i.e. between 166 and 172.
