Retirement: will your pension be increased on September 1?

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More than a million retirees who have spent most of their careers on the minimum wage will benefit from the increase in their pension provided for by the latest reform… With a 12-month catch-up period.

She finally arrives. After a year of waiting, more than a million low-income retirees will benefit from an increase in their pension. They are in fact benefiting from the increase in the minimum contribution (Mico), of a maximum of 100 euros gross per month, provided for in the latest pension reform. As a reminder, the Mico makes it possible to increase the pension of low-income retirees who have had a full career paid at the legal minimum wage (Smic). In total, 1.7 million of retirees receiving small pensions have or will be revalued.

But while the pension reform came into force on September 1, 2023, only 600,000 beneficiaries have seen their pension increase by an average of 49.76 euros per month according to figures from the Retirement Insurance. If the wait is so long for the others, it is because it is “older files for which we did not immediately have the precision between contributed and non-contributed quarters”indicated to Capital Retirement Insurance in this article published at the end of July.

Your retirement pension will be increased in October

Among the conditions to be met to benefit from the exceptional increase of the Mico, it is indeed necessary to have contributed 120 quartersall schemes combined. Please note that assimilated quarters, i.e. those awarded in very diverse cases such as unemployment, maternity or paternity, illness or military service, are not taken into account. In other words, the 120 required quarters must have been validated by having paid retirement contributions calculated on your salaries or earned income.

Another condition to benefit from the exceptional increase in the Mico: having taken your full-rate retirement and that your basic pension is less than 847.57 euros per month. On average, according to the Retirement Insurance, the revaluation of the remaining small pensions will be of the order of 50 to 60 euros gross per month.

Please note that if the revaluation is announced for September 1st, it will be effective on your bank account. October 9ththe basic pension is still paid in arrears. And since the revaluation is supposed to apply since the reform came into force on September 1, 2023, you will benefit from a catch-up of one year in addition to the September 2024 pension paid on October 9. For example, if your pension is to be revalued by 50 euros gross, you will receive an additional 600 euros the first month (50×12). Then return to normal in November when the October pension is paid. This will only be increased by 50 euros gross.

It remains to be seen whether all retirees eligible for an increase in the Mico will really benefit from the revaluation of their small pension this autumn. Contacted again by Capitalthe Retirement Insurance indicates that it is not excluded that, after September 1, there will be “remaining files related to developments or revisions”It will provide more precise statistics on the exact number of beneficiaries of the Mico increase and the average amount around September 9.