Amending Social Security Financing Law of April 14, 2023 – Pension Reform Act
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France's 2023 pension reform law raises the legal retirement age from 62 to 64 years, to be phased in progressively by 2030. This is one of the most significant overhauls of the French retirement system in decades, affecting virtually all workers in the private and public sectors. The required contribution period for a full pension is accelerated to 43 years (172 quarters) starting in 2027, rather than the previously planned 2035. Workers who started their careers early or held physically demanding jobs retain some early retirement provisions, though conditions have been tightened. The law abolishes most special pension regimes (régimes spéciaux) for new entrants in sectors such as RATP (Paris transit), energy utilities, and notary clerks, aligning them with the general regime. Existing workers in these sectors are grandfathered under their current rules. Measures to protect low-income workers include a minimum pension of approximately €1,200/month for a full career at minimum wage, and strengthened provisions for early retirement due to disability, long careers, or arduous working conditions. The law entered into force on September 1, 2023.
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Key Changes
- Legal retirement age raised from 62 to 64 years, phased in progressively at a rate of 3 months per year, fully effective by 2030
- Full pension contribution period accelerated to 43 years (172 quarters) by 2027, 8 years earlier than previously scheduled (2035)
- Special pension regimes (régimes spéciaux) abolished for new hires at RATP, EDF/GDF, Banque de France, notary clerks, and others — existing staff grandfathered
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Obligations
What this law requires
Progressively raise the legal retirement age from 62 to 64 years, with implementation completed by 2030
Implement accelerated contribution period requirement of 43 years (172 quarters) for a full pension starting in 2027
Align new entrants in special pension regimes (RATP, energy utilities, notary clerks, etc.) with the general pension regime, effective September 1, 2023
Grandfather existing workers in special pension regimes under their current rules; maintain special regime eligibility only for workers employed prior to September 1, 2023
Ensure minimum pension of approximately €1,200/month for workers with a full career at minimum wage