international employment law firm alliance L&E Global

France: New pension reform: the first 2 implementation decrees have been published in view of the law’s entry into force next 1st September

Decrees 2023-435 and 2023-436, in application of the new pension reform law, were published on 3 June 2023. In summary, they set out the rules on the progressive increase of the pension age from 62 to 64 years old and on early retirement for those having started work early, who are disabled or permanently incapacitated.

The first decree covers several branches of the public sector.

The second decree covers early retirement options. The rules for those having started work early are updated, setting out 4 different retirement ages for those having started work at 16, 18, 20 or 21 years old who can, respectively, retire at 58, 60, 62 or 63 years old. Disabled employees can still retire upon reaching the age of 55 and the retirement conditions have been made more flexible. Permanently incapacitated employees can also claim their pension rights when they reach the age of 62.

Finally, the decree allows employees who have requested to benefit from their pension rights before 1 September 2023, and who were due to retire at this date can ask for a deferral before 31 October 2023.

The remaining decrees will be published in the coming weeks.

Key Action Points for Human Resources and In-house Counsel

  • review the situation of staff who had already made a request to retire at 62 and assist them in requesting a deferral if they no longer meet all the required conditions for a full pension.