The sound financial health of the complementary system can serve as an argument for unions wanting the government to delay pension reform.
The Agirc-Arrco Supplementary Pension Scheme for executives and private sector employees should continue to be largely green this year, with “Technical result” estimated at 3.7 billion euros, according to an internal document that AFP consulted on Friday 23 September.
The big box is full. According to the scenariocentralrecently presented to its finance committee, Agirc-Arrco expects a surplus “technical” (before the financial result) 3.7 billion euros this year. After a surplus of 2.6 billion last year, the system managed by unions and employers continues to benefit from the post-Covid economic recovery.
Revaluation of pensions
Enough to fuel further discussions on the revalorization of pensions on November 1, especially as it is still projected to increase by 1.5 billion in 2023 and that “golden rulehaving six-month financial reserves over a 15-year horizon. Growth of at least 4.9% has been achieved at this stage, broadly in line with wage evolution (4.8%) and a slight catch-up (0.1%) of underestimated inflation in 2021, several union sources said AFP.
That’s more than the 4% government allocated to basic pension services by Sécu this summer, but less than the price increase excluding tobacco set by Agirc-Arrco at 5.3% year on year. Compared to the € 84 billion in benefits foreseen in the 2022 budget, this mechanical increase will increase spending by more than € 4 billion next year.
Also readSupplementary pensions show good results
Some negotiators, however, hope to get more to limit the loss of purchasing power of retirees. The topic will be placed on the table “Joint Commission” Tuesday afternoon, ahead of the decision of the Board of Directors on October 6. But the social partners have limited room for maneuver due to their “golden rule”And the rules set before the health crisis that prevent them, in particular, from increasing their pensions above wage increases. Negotiations on a new deal in early 2023 will allow them to get everything back on track.