The Agirc-Arcco supplementary pension plan again in very surplus in 2022 – Liberation

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After the surplus of 2.6 billion already recorded last year, the system managed by the unions and the employers therefore continues to reap the benefits of the post-Covid economic recovery.

The big overflowing crate. The Agirc-Arrco supplementary pension scheme for executives and private sector employees should still be largely in the green this year, with a “technical result” reached 3.7 billion euros, according to an internal document consulted by AFP on Friday. According to the “central” scenario recently presented to its financial commission, Agirc-Arrco is effectively counting on a surplus “technical” (before financial result) of 3.7 billion euros this year.

After the surplus of 2.6 billion already recorded last year, the system managed by the unions and the employers therefore continues to reap the benefits of the post-Covid economic recovery.

What fueled the next discussions on the revaluation of pensions on November 1, especially since a gain of 1.5 billion is still projected for 2023 and that the “Golden Rule” of having six months of financial reserves over a fifteen-year horizon would still be held.

“Joint Commission”

At this stage, an increase of at least 4.9% has been acquired, essentially corresponding to the evolution of wages (4.8%) and a slight catch-up (0.1%) of undervalued inflation in 2021, several union sources told AFP. Better than the 4% granted this summer by the government on the basic pension service by Social Security, but less than the increase in the price excluding tobacco, quantified by Agirc-Arrco at 5.3% year-on-year.

Compared to the 84 billion euros of budgetary benefits for 2022, this mechanical increase will cause spending to jump by more than 4 billion next year.

Some negotiators hope to keep more to limit the loss of purchasing power of retirees. The subject will be placed on the table of a “Joint Commission” Tuesday afternoon, before a decision by the Board of Directors on October 6.

But the social partners have limited room for maneuver, due to their “golden rule” and the principles established before the health crisis, which prevent them in particular from upgrading pensions beyond the increase in wages. The negotiation of a new agreement in early 2023 will allow them to put everything back on track.

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