Updated
The French pension system rests on two compulsory tiers and an optional third, and that distinction has to be made before any calculation. The basic scheme pays a pension computed from average annual earnings over the best twenty-five years, with a full rate that depends both on age and on the number of quarters credited. The compulsory supplementary scheme, Agirc-Arrco, works on points instead: every euro contributed buys points, and the pension is the number of points multiplied by the point value, which is revalued annually. The third tier, the PER retirement plan and life insurance, is individual and depends on no contribution period at all. The simulators on these pages quantify the first two tiers separately, because a decision about when to retire never turns on their combined total. For anyone who has worked in several countries, each period counts in the country where it was completed.
The French pension system, demystified
France has one of the most comprehensive retirement systems in the world. Explore how much you would receive, when you can retire, and how to optimise your savings.
Public Pension
Simulate your state pension from the general regime (Social Security) and the mandatory AGIRC-ARRCO supplementary scheme. Based on the 2023 reform rules.
Private Pension
Project your private retirement savings using the PER and Life Insurance wrappers. Compare tax advantages, risk profiles and withdrawal options.
How it works
Pick a simulator
Public pension (general regime + AGIRC-ARRCO) or private retirement savings (PER + Life Insurance).
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Age, salary, savings... adjust the sliders and see results update in real time.
Understand and optimise
Charts, breakdowns and educational content to help you make the right decisions.
Legal retirement age
64
For those born from 1968 onward (2023 reform)
Quarters required
172
43 years of contributions for the full rate
Replacement rate
~50-75%
Of last salary (base + supplementary)
Worker-to-retiree ratio
1.7
Down from 4 in 1960, highlighting the need for private savings
Understanding the French pension system
The French pension system is one of the most comprehensive in the world. It operates on a pay-as-you-go basis: contributions from today's workers directly fund the pensions of current retirees. This model, inherited from the post-war era and consolidated by the 1945 ordinances, covers virtually the entire working population through around forty different schemes, from the general regime for private-sector employees to special regimes (SNCF, RATP, civil servants).
The public pillar consists of two mandatory tiers: the basic regime (Social Security), which pays a pension calculated on the 25 best earning years at a full rate of 50%, and the complementary AGIRC-ARRCO scheme, which operates on a points basis and covers all salary above the Social Security ceiling. Together, they deliver a replacement rate of 50 to 75% of final salary for a full career.
Faced with demographic ageing -- the worker-to-retiree ratio has fallen from 4:1 in 1960 to 1.7:1 today -- private savings play an increasingly important role. The PER (Plan d'Epargne Retraite), introduced in 2019, and Life Insurance (Assurance Vie), with over EUR 1,900 billion in assets under management, allow individuals to supplement mandatory pensions while benefiting from significant tax advantages. The 2023 reform reinforced this trend by raising the legal retirement age to 64.
Key points
The general regime and AGIRC-ARRCO
The French public pension system rests on two mandatory tiers. The general regime (Social Security) pays a pension calculated on the 25 best earning years, with a full-rate of 50% of the capped average annual salary. AGIRC-ARRCO, the complementary points-based scheme, adds a second layer: every euro contributed buys points whose value is revalued annually. Together, these two pillars deliver a replacement rate of roughly 70-75% of final salary for a private-sector employee with a full career.
Age and retirement conditions
Since the 2023 reform, the legal retirement age is being gradually raised to 64 (for those born from 1968 onward). To qualify for the full rate, you must have 172 quarters (43 years) of contributions. Retiring before reaching that threshold triggers a penalty of 1.25% per missing quarter. Conversely, working beyond the required duration earns a bonus of 1.25% per additional quarter. Long careers and arduous working conditions may qualify for early retirement under specific rules.
PER and Life Insurance
The Plan d'Epargne Retraite (PER), introduced by the 2019 Pacte Act, allows contributions to be deducted from taxable income up to 10% of net earnings. Savings are locked until retirement, with withdrawal as a lump sum or annuity. Life Insurance (Assurance Vie), the favourite savings vehicle in France with over EUR 1,900 billion in assets under management, offers a favourable tax framework after 8 years: an annual allowance of EUR 4,600 (single) or EUR 9,200 (couple) on withdrawn gains.
Tax advantages
PER contributions are deductible from taxable income, generating an immediate tax saving proportional to your marginal tax rate (MTR). At a 30% MTR, a EUR 5,000 contribution reduces your tax bill by EUR 1,500. Life Insurance enjoys reduced taxation after 8 years: gains are subject to a flat levy of 7.5% (versus 12.8% before 8 years) after the annual allowance. Social levies of 17.2% apply on gains in both cases.
2023 reform and outlook
The 2023 pension reform raised the legal retirement age from 62 to 64 and accelerated the extension of the contribution period to 43 years by 2027. It preserves the long-career scheme and strengthens the minimum pension to 85% of the SMIC (minimum wage) for a full SMIC-level career. The worker-to-retiree ratio, which fell from 4:1 in 1960 to 1.7:1 today, makes private savings increasingly important to maintain one's standard of living in retirement.
Frequently asked questions
What is the retirement age in France?
The legal retirement age is now 64 for people born from 1968 onward. It is possible to retire as early as 58 under the long-career scheme (if you started working before age 16) or 62 for permanent disability. The age at which the penalty is automatically cancelled remains 67.
How is the basic pension calculated?
The general-regime pension is calculated as: Average annual salary x Rate x (Insurance duration / Reference duration). The average annual salary is the mean of the 25 best earning years, the full rate is 50%, and the reference duration is 172 quarters for recent generations.
What private retirement savings exist in France?
The main vehicles are the individual PER (tax-deductible contributions, lump-sum or annuity withdrawal), the company PER (collective or mandatory), Life Insurance (flexibility and favourable taxation after 8 years), and the PEA (European equities, tax-exempt gains after 5 years). Each wrapper has its own contribution limits and tax benefits.
How much will I receive in retirement in France?
The average replacement rate in France is 50 to 75% of final salary (basic + complementary). A minimum-wage worker with a full career will receive at least 85% of the net SMIC. A senior executive will see a lower replacement rate (~50%) due to the Social Security ceiling, which underscores the importance of supplementary savings.
Can I retire early in France?
Yes, under certain conditions. The long-career early retirement scheme allows departure between 58 and 63 if you started working before age 16, 18 or 20 and meet the required contribution period. Retirement for permanent disability (rate of at least 50%) is possible from age 62. Disabled workers may retire from age 55.