On September 1, 2023, the minimum contribution increase came into effect. Raised with a maximum amount of 100 euros, Mico is specifically intended for retirees whose jobs are poorly paid. By September 2024, Mico’s progress should be widespread.
The goal of minimum contributions is to enable smaller pensions to cope with inflation. After the new pension reform, the Mico for full rate pension was increased to 847.57 euros. For retirees who contributed less than 120 quarters, the Mico was increased to 709.13 euros. For intermediate profiles, the amount of 709.13 is increased in relation to the number of quarters contributed.
Thus, since September, around 15,000 new pensioners have benefited from an increase of 30 euros per month, and some 500,000 old pensioners have received an extra 50 euros per month on average. Except this progress has not yet benefited all retirees. According to capital city, there are about 700,000 who have not yet taken advantage of it. The good news is that the increase should be widespread until next September.
Apart from the amount, the resource limit not to be exceeded for receiving Mico was also re-evaluated last September. From now on, to benefit from the minimum contribution amount, the total pension (basic and supplementary) must not exceed 1,367.51 euros per month, an increase of 57.76 euros compared to the previous year.
As a reminder, to get a Mico, you must meet 4 criteria. The beneficiary must be of legal retirement age, respect the minimum number of contributed quarters (120 quarters for the full rate), have requested all the pensions to which he is entitled and, finally, respect the resources ceiling, which is therefore 1,367.51 euros. 2024.
Agirc-Arrco supplementary pension is also affected by the change
Apart from Mico, Agirc-Arrco supplementary retirement pension will be adjusted according to the new CSG rate in March. For retirees whose CSG rates increase in 2024, their pension will be reduced slightly in March to compensate for overpayments from previous months. For those whose CSG rate has been reduced, their pension will be slightly higher in March, with a recoupment of contributions collected earlier.
