Understanding the Factors that Determine Your Pension: Age and Quarters

The current pension reform raises many questions among the French depending on their situation. Indeed, those who have earned minimum wage all their lives wonder if they will have enough money to live comfortably when they retire. Others wonder if they can quit their job gradually despite the problems it may cause. And older people are especially afraid of not having enough money to support themselves once they stop working. It is therefore important to know at what age to take it in order to have the highest possible pension. Explanation.

What is a full pension?

A full pension is without discount, as explained on the site of Service Public. Employees in the private sector are entitled to a retirement pension from the Social Security Retirement Insurance. As well as a pension from Agirc-Arrco, called a supplementary pension.

To benefit from a full rate pension from the Social Security Retirement Insurance, one of the following two conditions must be met. Or leave before the age of 67 having accumulated the required number of quarters of pension insurance. Moreover, this number varies according to your year of birth. Either retire at age 67, regardless of the number of quarters of pension insurance acquired. If you stop working before age 67 and you have not accumulated the required number of quarters, you will therefore not be entitled to the full rate. Your pension will then be reduced in proportion to the number of missing quarters. And the same goes for the Agirc-Arrco supplementary pension.

Difference between full rate and maximum rate

The full rate and the maximum rate have a difference. Depending on the Public Service, you may be entitled to the full rate without benefiting from the maximum possible rate. The amount of your basic pension from Social Security pension insurance depends on the average of your gross salaries for the best 25 years. As well as your number of pension insurance quarters.

To receive it at full rate, you must have accumulated a specific number of quarters or stop working at age 67. In the latter case, the full rate is automatically granted. However, this is not the case for the maximum rate. Even if you leave at 67 and this ensures you a full pension, without reduction, it will still be less important if you do not have all your quarters. In other words, you will have a more advantageous pension if you leave at the maximum rate rather than at the full rate.