Complementary Pension Scheme for Public Employees on Labour Contracts
Institution de retraite complémentaire des agents non titulaires de l'État et des collectivités publiques, IRCANTEC
Coverage
Mandatory insurance
- Public employees of the state and of local administrations who are employed on a labour contract.
Financing
General finances
- Mainly PAYG-financed from insurance contributions, with public subsidies.
Contribution rates
- The contributions are calculated according to two levels of income, without contribution assessment ceilings.
- The contribution rates are dependent on income brackets: for annual salaries up to EUR 40,524 (in 2019) the rate is 7%, shared between the employee (2.8%) and the employer (4.2%); for annual salaries above EUR 40,524 (in 2019) the rate is 19.5%, shared between the employee (6.95%) and the employer (12.55%).
Taxation of contribution payments
- Tax exemptions for contribution payments.
Administration
- The scheme is administrated by the Deposit and Consignment Office (Caisse des dépôts et des consignations).
- The financial management of the scheme is conferred to a board which is composed of 34 members: 16 representatives of the beneficiaries, 16 representatives of the employers and 2 distinguished personalities chosen by the state.
Qualifying Conditions
Qualifying conditions
- The retirement age is 67 years.
Early retirement
- Possibility to apply for the pension before the retirement age (with negative adjustment of the benefit).
- Special conditions for early retirement available for persons with disabilities or long career or working in arduous jobs.
Deferred retirement
- Retirement can be deferred, with positive adjustments to pension benefits (0.625% per quarter).
Combining employment & retirement
- It is possible to combine a reduced activity with pension benefits.
Benefits
Pension benefits
- The benefit is determined via a point system.
Factors for benefit calculation
- The sum of the benefit equals the point value multiplied by the number of points.
- Various periods are assimilated to pensionable periods, creating thus extra points for the beneficiary (e.g. the period in which the invalidity pension or the unemployment benefits are granted).
- Adjustments: the point value is readjusted every year.
Taxation and social security contributions
- Pension benefits are subject to income tax.
- Pension benefits are subject to mandatory health insurance, CSG, CRDS and CASA.
Coverage
Financing
Administration
Qualifying Conditions
Benefits
Mandatory insurance
- Public employees of the state and of local administrations who are employed on a labour contract.
General finances
- Mainly PAYG-financed from insurance contributions, with public subsidies.
Contribution rates
- The contributions are calculated according to two levels of income, without contribution assessment ceilings.
- The contribution rates are dependent on income brackets: for annual salaries up to EUR 40,524 (in 2019) the rate is 7%, shared between the employee (2.8%) and the employer (4.2%); for annual salaries above EUR 40,524 (in 2019) the rate is 19.5%, shared between the employee (6.95%) and the employer (12.55%).
Taxation of contribution payments
- Tax exemptions for contribution payments.
- The scheme is administrated by the Deposit and Consignment Office (Caisse des dépôts et des consignations).
- The financial management of the scheme is conferred to a board which is composed of 34 members: 16 representatives of the beneficiaries, 16 representatives of the employers and 2 distinguished personalities chosen by the state.
Qualifying conditions
- The retirement age is 67 years.
Early retirement
- Possibility to apply for the pension before the retirement age (with negative adjustment of the benefit).
- Special conditions for early retirement available for persons with disabilities or long career or working in arduous jobs.
Deferred retirement
- Retirement can be deferred, with positive adjustments to pension benefits (0.625% per quarter).
Combining employment & retirement
- It is possible to combine a reduced activity with pension benefits.
Pension benefits
- The benefit is determined via a point system.
Factors for benefit calculation
- The sum of the benefit equals the point value multiplied by the number of points.
- Various periods are assimilated to pensionable periods, creating thus extra points for the beneficiary (e.g. the period in which the invalidity pension or the unemployment benefits are granted).
- Adjustments: the point value is readjusted every year.
Taxation and social security contributions
- Pension benefits are subject to income tax.
- Pension benefits are subject to mandatory health insurance, CSG, CRDS and CASA.
Legal Basis: Social Security Code – Book IX; Decree of 23 December 1970 (Code de la sécurité sociale, Livre IX; Décret n°70-1277 du 23 décembre 1970 portant création d'un régime de retraites complémentaire des assurances sociales en faveur des agents non titulaires de l'Etat et des collectivités publiques).