the essential
The supplementary pension scheme for employees in the private sector announces an increase in pensions which will be effective on November 1st.
It’s a moment that private sector retirees look forward to every year. In October, the Agirc-Arrco board of directors decides on the level of revaluation of the pensions of its 14 million members.
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Agirc-Arrco supplementary pension: what we know about the revaluation planned for November 1st
The meeting of representatives of employers’ and trade union organizations, which manage the organization, took place this Tuesday, October 15. They agreed on an increase of +1.6%, effective November 1, 2024.
“This decision was taken while ensuring the balance of the system over time and fairness between generations to ensure the payment of pensions for today and tomorrow,” indicates Agirc-Arrco in a press release. .
A solid financial situation
Concretely, the social partners ensure that the pension fund is able to have in reserve, at any time, at least six months of pension payments. “This responsible management […] allows the plan to benefit today from a solid financial situation, without any debt. It thus guarantees the payment of pensions to each generation without burdening future generations,” says Agir-Arrco.
The full-year cost of this increase is 1.6 billion euros, or 24 billion over 15 years entirely financed by the regime.
