In order to supplement their basic pension, people who have contributed little benefit from the minimum contribution. Indexed on the minimum wage, the resource ceiling not to be exceeded to obtain this benefit has just been revalued on November 1, 2024.
Au 1is November 2024, the Interprofessional Growth Minimum Wage (Smic) increased to 11.88 euros per hour and 1,801.80 euros per month based on 35 hours per week (compared to €11.65 per hour and at €1,766.92 gross monthly, previously). While this 2% increase should have applied from 2025, the Barnier government has decided to bring forward its application.
Indexed on the minimum wage, the monthly ceiling for personal pensions to be respected for the allocation of the minimum contributory amount also increases in advance. Thus, it is now set at €1,394.86 per month compared to €1,367.51
euros previously).
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The minimum wage increases to €11.88 gross per hour on November 1, 2024
Remember that unlike the Aspa (Solidarity Allowance for the Elderly), granted to all those over 65 with limited resources, the minimum contributory amount is allocated to people who are entitled to a full-rate basic pension. and who have paid out all their pensions (basic or supplementary). It thus allows retirees from the general Social Security Old Age Insurance scheme who have contributed on low salaries to receive a minimum amount of basic retirement.
However, payment of the minimum contributory amount (and its increase) must not cause the overall pension (basic and supplementary), all schemes (private/public) combined, to exceed the aforementioned ceiling of €1,394.86 per month. at 1is November 2024.
If exceeded, the increase is reduced so that this amount is reached.
€8,796.38 gross per year at least
In practice, this means that a senior’s basic pension is increased to the level of the minimum contributory amount.
For a person who retires before age 67 and has the number of quarters required to be entitled to a full-rate pension and the required contribution, the amount of their pension cannot be less than €10,513.61 gross per year , or €876.13 gross per month.
In the event of retirement before age 67 with the number of quarters required to be entitled to a full-rate pension, the amount of the pension cannot be less than €8,796.38 gross per year, i.e. €733.03 € gross per month for people who have contributed more than 120 quarters of contributions. Above this, this sum is increased by €733.03 gross per month depending on the number of quarters contributed.
Senegal
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