DISCUSSIONS

Find the answers to many of your expat questions here

View Latest Posts

You're missing out...

As a member you can enjoy exclusive info and offers.

REGISTER NOW

State Pension Advice?

Posted by Adam Greener - Created: 14 years ago
0 0
Sorry no image available

5 replies (Showing replies: 1 to 5)

Sorry no image available
Posted by Adam Greener - 14 years ago

Black Cat,

Thank you very much for your help, I had already contacted the organisation that I pay my pension contributions to & they were fairly non-committal, so your advice as really helped to clarify the situation.

All the best,

Adam

Sorry no image available
Posted by Miss Varna - 14 years ago

Do you know what happens to your contributions if you leave France prior to those 8 years? Can they be paid out or can the points be transfered to the system of any other EU country (not UK in our case)?

Sorry no image available
Posted by Black Cat-192495 - 14 years ago

quote:if I pay less than 25 years into the French state pension system (for whatever reason), does this mean I will not qualify for any pension benefits when I retire? (In other words, do you have to pay a min of 25yrs to be eligible for a % of the French State Pension?)id=quote>If you pay in for less than 25 years you still get a % based on the years you did pay in. The reason I say that you might consider retiring at 61 is that the last year(s) is likely to be your highest earning years and that will increase the amount you get.There IS a minimum period to get benefits however. It used to be 8 years. Might have changed since. As you're self employed, why not ask the organism you pay into what the minimum period is?

Sorry no image available
Posted by Adam Greener - 14 years ago

Black Cat,

Thank you very much for the advice, it is better news than I expected. However, if I pay less than 25 years into the French state pension system (for whatever reason), does this mean I will not qualify for any pension benefits when I retire? (In other words, do you have to pay a min of 25yrs to be eligible for a % of the French State Pension?)...Thank you.

Adam

Sorry no image available
Posted by Black Cat-192495 - 14 years ago

You will not end up with nothing from the French system if you pay in for 24 years. You'll get a pro-rata payment, not the maximum pension which you must pay for 37 years to get (and it'll eventually be up to 40 years because of the pensions shortfall due to low birth rates).I think you'll find that the fundamental differences between the British State (as opposed to a private plan) and French State systems are:1/ the French system pays out a percentage of your best 25 years (so maybe you should consider retiring at 61 instead of 60). The British state system pays out the same standard pension to everyone who has paid in, pro rata to the number of years they've worked but independent of whether they were a high or low earner during their working life. An exec gets the same pension as a labourer. Private plans can make up the difference however.2/ You can continue to work after the age of 65 years while drawing the British State pension. Except in special circumstances (French military, for example) you must stop work to draw the French state pension. If you do continue to work after retirement age you will continue to pay into the system but you will also get increased pension benefits whenever you decide to retire.