The controversial pension reform has increased the “contributory minimum” (Mico), a support mechanism for small pensions, so that they reach at least 85% of the net minimum wage, for an employee who has completed a full career at the minimum wage.
The second wave of revaluation of “small pensions” planned as part of the pension reform will concern “850,000 people” and will take place at the beginning of October, the Parisian the general director of the CNAV, Renaud Villard. “We will pay the increase planned for 850,000 people,” he explains. “They will receive two types of payments: around September 25, the catch-up over one year of the increase they should have received since September 1, 2023,” when the reform came into force. “And on October 9, their increased pension,” he explains.
“Those concerned will receive an average of 600 euros in retroactivity, i.e. a catch-up over twelve months. As for the revaluation of their pension, it will be 50.94 euros on average and will apply every month. Information letters will be sent from September 9,” continues the director of the Cnav, thus specifying announcements made last week.
A first wave of revaluations for 600,000 retirees a year ago
The controversial pension reform has increased the “contributory minimum” (Mico), a support mechanism for small pensions, so that they reach at least 85% of the net minimum wage, for an employee who has completed a full career at the minimum wage. The government introduced this measure to strengthen the social aspect of a reform pushing back the legal retirement age to 64, compared to 62 previously.
Around 600,000 general scheme retirees had already seen their pensions increase during a first wave of revaluations, in the fall of 2023, when the reform came into force, recalls Renaud Villard. But “for retirees who left before 2009, 20, 30 or 40 years ago, it was necessary to reconstruct careers and sometimes even by searching through paper archives,” he explains.
Asked about the fate of the pension reform, a stake in the negotiations for Matignon, he also emphasizes that “whatever the decision is within the political domain, the Retirement Insurance will apply the law”. While ensuring that he is ready to adapt “to all scenarios”, while “since September 2023 and by the end of 2024, approximately 840,000 people will have left under the rule of the new reform”, he adds that, “more pragmatically, we should avoid the timetable being too abrupt for us to be able to implement it correctly because in the end, it is the insured who will suffer”.
