According to a leak of the NRC, the Steering Committee of pensions, reform of Agric / Arrco October 30 could decrease by 18% of executives Pension born after 1990. “The decline announced is so strong that it surprised us all, “says Emmanuel Grimaud, CEO Maximis Retreat. So we asked several experts for the calculation and optimization of retired cadres. And surprise! It is far from the disaster foretold. Explanations and corrections …
According to the study of the COR, cited by Le Figaro last Tuesday, “a framework was born in 1959, wanting to retire as soon as he insurance period in basic plan, will lose about 14.5% of its supplementary pension “. The loss will be 16% for a framework was born in 1975 and says the COR, “will grow over generations to achieve over 17% for a framework was born in 1990″. The worst example being the non-executive born in 1990, who will leave “almost 18%”. Concerned, two measures decided in October to bail out supplementary schemes AGIRC (frames) and Arrco (all other employees): the penalty and yield loss of retirement points …
Working another year
What does the reform of October 30? That to save additional pension AGIRC and ARRCO it would work one more year if we are to receive an additional full retirement. An employee who receives a retirement “general regime” full rate from 62 years will have to wait one more year, that is to say his 63 years to reach its complementary full retirement. In case of refusal or desired starting from 62 years old, her supplementary pension would suffer a 10% reduction over three years.
Please note, this is only an allowance on temporary retirement and limited in the weather. The discount is therefore only 5% if the total pension consists of equal parts of complementary retirement and the general scheme. And only covers three years. The entire length of pension payment (25 years on average), the real impact would actually be closer to 0.5% for a framework born in 1959 which would go to 62 years in retirement …
Decreased performance Agirc points Arrco
the simulation of the COR considers another factor: the decline in the performance of AGIRC and ARRCO points. This return pass, according to his calculations, about 6.5% to 6% Time today, which is a very pessimistic assumption. But the impact of this decline would be also very small (around 1%). In other words, the combination of the two measures would reduce that to less than 2% of total pension of a 1959 framework that wants to retire “when he contributed long enough to the basic plan.” It is far from 14.5% announced by the COR. In fact, simulations COR simply permanently applied the temporary discount (limited to three years) of 10%!
Less than 18% in one case
Different firms contacted were unable to reconstruct the 18% decrease announced. Except in one case, you will see, very special … That of a young, that would have never worked (with 20 years today is to say, born in 96), and which would therefore 42 years of activity to perform. He would weigh the full impact of declining returns on additional, fell to 6% in 2016 (which is not expected). And yet that did it would impact only during the three years of temporary discount of 10%. “That,” says Emmanuel Grimaud, “for the next 22 years of life expectancy at retirement, his haircut would weigh only to 6.8% if it is part (and 2.3% if it is not) ! “
Our table allows you to get an idea of the actual impact of the two measures taken last October. In the best of cases, the real impact of conjugate and two measures in October is less than 1%. And in the worst case, it is less than 7%. As seen, it is difficult to find if it will weigh more than 10% of retirement, much less 18%. You are reassured?
It remains to understand what were the intentions of the COR leaving fuiter these simulations. Difficult to know: the Committee does not wish to comment
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