The workers carry out a physically grueling job, unfortunately they are not always well paid for it. Does the situation change once they retire? Find out how much a retired worker who has done this job all his life earns.
When we talk about the worker professionthe first thing that comes to mind is hard physical work. Indeed, you must be in full possession of your means to exercise the profession of worker and it is very often a profession which involves risks. After years of hard work, how much can these professionals expect to receive in retirement? To answer this question, it is inevitably necessary to specify the method of calculating the workers' retirement.
Calculation of workers' retirement pension
The basic pension of a worker
The basic pension is calculated from average annual salary of the worker's 25 best years of career. This retirement also depends on the number of validated quarters and the liquidation rate. As a reminder, the full rate is reached by a worker when he has 172 quarters of contributions (i.e. 43 years) unless his year of birth entitles him to a shorter minimum insurance period. By applying the calculation formula mentioned on Retirement in plain language, we can easily determine the basic pension of a worker. As an illustration, a worker who has an average annual salary of 20,000 euros and obtains a full pension will receive a monthly pension of 833.33 euros.
Supplementary pension for workers
In addition to the basic pension, workers benefit from a supplementary pension. Contributions to this pension are compulsory and calculated on professional income. The points accumulated during the career determine the amount of the supplementary pension, each point being converted into a pension according to a specific value. You should know that the construction workers like those in production factories are subject to the Agirc-Arrco supplementary regime which also gives the right to free aid. Therefore, the formula for calculating this pension is number of points acquired x value of the point.
Other factors influencing workers’ retirement
Beyond the basic and supplementary pension for workers, other factors can impact the amount of their pension. This is particularly the case of bonuses and social minimums. Concerning social minimums, let us recall on this subject that the minimum contribution is paid to all former private sector employees who have a small pension.
Some useful information on workers’ retirement
What is the pension plan in charge?
Workers, whether they are employees in the construction sector or production companies, are employees of the private sector. As such, their basic pension is managed by the general social security system. As for their supplementary pension, it is ensured by theAgirc-Arrco. Apart from workers in the private sector, there are also those who work in state industrial establishments. Regarding the latter's retirement plan, it is covered by the FSPOOIE (Special pension fund for workers in state industrial establishments) as mentioned on the Retirement Info portal.
Guarantee a minimum pension of 1000 euros
Many workers have worked in this profession their entire career with a salary indexed to the Minimum wage. Upon retirement, they generally find themselves with a pension of less than 1000 euros. As a reminder, one of the main axes of the project pension reform was to increase small pensions to 1000 euros. It is true that this measure is laudable, but it is accompanied by a penalty system which affects all workers who wish to retire before the legal age.
Aid for retired workers
Retired workers can benefit from financial boosts to help them meet health care costs. For example, theSolidarity allowance for the elderly (ASPA) can supplement their retirement pension if their income is below a certain threshold. Other assistance may include grants for home improvement and home services.
