Retirement: The End of Special Pension Plans
The government published, in the Official Journal, the decrees implementing the pension reform, which aims to phase out the main special pension schemes starting in September.
These decrees formalize the elimination of special pension plans (RATP, the electricity and gas industries, notary clerks, and the Banque de France) for new employees hired on or after September 2023. However, employees hired before that date will continue to benefit from these plans under the “grandfather clause.” Nevertheless, these employees will not be exempt from the changes mandated by the reform for all employees. Thus, the age at which they become eligible for benefits will be gradually raised by two years, and the required period of insurance coverage for a full pension will increase more rapidly, as the Ministry of Labor noted in a press release.
These changes will take effect on January 1, 2025, at which point the convergence measures from previous reforms will have been fully implemented. However, it is important to note that the ages at which the reduction is eliminated in the RATP and electricity and gas industry pension plans remain unchanged.
Certain special pension plans will remain in place despite the reform, due to the specific requirements they serve, such as those for seafarers, the Paris Opera, and the Comédie Française. Autonomous pension plans, such as those for independent professionals and attorneys, are also unaffected by this reform.
As for the long-career provision, it will be adjusted in the same way as for the general pension system, with four entry age thresholds allowing for early retirement: at ages 58, 60, 62, or 63, depending on the number of contribution quarters required to qualify for the full benefit rate.
In addition, the reform recognizes the personal commitment of caregivers to family life by now allowing four quarters to be counted toward eligibility for this program.
The pension reform is set to take effect on September 1, 2023, and the government must publish most of the implementing regulations before that date.
