Working after age 67: what does this mean for the employee's retirement?
Verified 13 August 2024 - Directorate for Legal and Administrative Information (Prime Minister)
Working past age 67 can increase your pension.
Yes, if you continue to work beyond 67, you can benefit from a increase your insurance term (i.e. your number of quarters) with Pension Insurance equal to 2.5% for each quarter over the age of 67.
You can benefit from this scheme provided you do not have, at 67, the number of quarters required to benefit from a pension at the maximum rate.
Increasing your duration of insurance with Pension Insurance allows you to benefit from a higher pension amount from Pension Insurance.
Indeed, the amount of your retirement from Pension Insurance depends on your total number pension insurance quarters, all regimes combined and, of that total number of quarters, number of quarters validated with Pension Insurance.
The pension of the Pension Insurance shall be calculated as follows:
Average annual salary of your best 25 years x 50% x (Your number of quarters validated with Pension Insurance / Your total number of quarters all regimes combined)
The closer your number of quarters validated with Pension Insurance is to your total number of quarters, all plans combined, the higher your pension amount is and it is closer to half your average annual salary.
Example :
If you were born in 1963, you are entitled to a full rate pension:
- From 62 years and 9 months if you have 170 quarters all plans
- Or at age 67, regardless of the number of quarters.
If, at 67, you have 170 quarters, you can not to benefit from an increase in the insurance period of 2.5% but you can keep working to get a overvaluation.
If, at age 67, you have less than 170 quarters (for example, only 160 quarters), you can continue working beyond age 67. A single additional quarter worked allows you to increase your insurance duration by 4 quarters (160 x 2.5%).
The number of quarters required to qualify for a full-rate pension before age 67 varies depending on your year of birth:
You were born: | You can retire from: | Number of quarters required to have the full rate |
|---|---|---|
In 1956 or 1957 | 62 yrs | 166 (41 years 6 months) |
Between 1er January 1958 and December 31, 1960 | 62 yrs | 167 (41 years 9 months) |
Between 1er January 1961 and August 31, 1961 | 62 yrs | 168 (42 years) |
Between 1er September 1961 and December 31, 1961 | 62 years and 3 months | 169 (42 years 3 months) |
1962 | 62 years and 6 months | 169 (42 years 3 months) |
1963 | 62 years and 9 months | 170 (42 years 6 months) |
1964 | 63 yrs | 171 (42 years 9 months) |
1965 | 63 years and 3 months | 172 (43 years) |
1966 | 63 years and 6 months | 172 (43 years) |
1967 | 63 years and 9 months | 172 (43 years) |
From 1er january 1968 | 64 yrs | 172 (43 years) |
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