Implemented on September 1 after long months of debate, The pension reform brings a number of changes. On the program for future retirees: legal retirement age set at 64 years, as well as the required number of annuities increased to 43 to reach the full rate. In this context, with the increased number of quarters required to leave it is common to ask the question of a possible buyback of neighborhoods. How many can you buy at most?
When your career includes periods during which you contributed little or nothing to the general social security system, in certain cases, you have the option of redeeming them at retirement. As part of the pension reform, which was introduced on 1 September 2023, the rules for this buy-back were updated. So now it is possibleredeem college education quarterlies at a lower price by December 31 of the year you turn 40. This option was previously possible until December 31 of the 10th year following the completion of the studies in question.
It is also possible apply for the payment of allowances for the internship in the company. This can be submitted by 31 December of the year you turn 30. Previously it was limited to the second year after the end of the traineeship. You can validate up to two quarters for your internships completed at the company since March 15, 2015. The minimum two-month internship must be paid and carried out as part of the university study plan.
Quarters of pension: how many can you buy at most?
While the pension reform modified the quarter buyback, the limit of quarters you can redeem remains the same. It is therefore not possible to redeem more than twelve quarters, which corresponds to three years of contributions. As our colleagues at MoneyVox report, buyback remains an appreciable solution, but one that must be explored precisely because of its cost.
For example, in relation to a rate-only buyout, that means reaching the full rate or reducing the discount after 20 years for a salary of less than €34,776, this one will cost you 1,055 euros. For a salary above 46,368 euros, this amount increases to 1,407 euros.
Retirement quarters: what are the costs of buying out quarters?
However, the rate-only buyback option remains the cheapest option. It allows you toget faster access to the full rate and avoid a reduction in your pension in case you don’t want to wait for your full age. Note that the latter is still set at 67 years.
If you wish to choose the rate and duration of the insurance, the option will be more expensive because it will affect the rate in the same way, while allowing to increase the number of quarters included in the insurance period. Therefore, this will allow you to remove the discountand at the same time increase the amount of your pension.