Revaluation of small pensions: will you benefit from it and how much will you receive?

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850,000 retirees will benefit from a pension increase in September. They will receive an average of 50 euros more per month. Here’s how to find out if you will be affected by this increase and how much you will be able to receive.

It took almost a year. 850,000 retirees will benefit from a financial boost in September. They will be able to take advantage of a maximum increase of 100 euros per month in their pension. This measure is included in the pension reform implemented since September 1, 2023. In total, nearly 1.5 million retirees have seen, or will see, their pension increased. To find out if you are affected, how much you will receive and on what date, here is the main points to remember.

Will you be affected?

To benefit from this increase, you must meet three conditions: receive a full-rate pension, have worked for at least 30 years in the basic employee scheme and your pension must respect certain ceilingsThe basic pension cannot exceed 847.57 euros per month (including increase) and the sum of all pensions (basic and supplementary) must not exceed 1,352.23 euros per month. “The mere fact of having a total pension of less than 1,352.23 euros per month is not sufficient to qualify for the increase”insists a press release from the Retirement Insurance.

As of September 2023, nearly 600,000 retirees will have benefited from this exceptional increase (Majex). These were recent retirees and those whose career information is easier to find because it is computerized. “On the other hand, for retirees who left before 2009, 20, 30 or 40 years ago, it was necessary to reconstruct their careers, sometimes even by searching through paper archives.”specifies Renaud Villard, general director of Retirement Insurance in an interview with Parisian. This is why they had to be patient and wait until September. For this new wave of revaluation, 850,000 retirees are concerned. If you are one of the eligible people, you will receive an information letter from September 16There will be no action to take to benefit from this increase, which will be automatically paid into your account.

How much money can you get?

Retirees affected by this new wave of increases will receive an average of 50.94 euros more per month, specifies a press release from the Retirement Insurance. The amount of this revaluation can reach up to 100 euros per month “provided you have paid full-time minimum wage contributions for your entire life. This is a purely theoretical case; it represents a maximum of 40,000 people.”recalls the director of Retirement Insurance. If this is not your case, the amount paid will be calculated according to your contribution period, the periods worked and the level of your pension.

This payment will be made with a retroactive effect. Indeed, as this measure came into force on September 1, 2023, the amounts that have not yet been paid will be reimbursed. “Those affected will receive an average of 600 euros in retroactivity, i.e. a catch-up over 12 months.”specifies Renaud Villard.

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What is the payment schedule?

After receiving the information letter, the catch-up of amounts due since September 1, 2023 will be paid into your account by the end of September. This payment will be made independently of your pension. Because it is on October 9 that you will receive your basic September pension with the exceptional increase that will now be applied every month. Note that this exceptional increase will be revalued each year at the same level as the basic pension, that is to say in relation to inflation.