AFP
The SMIC (minimum growth wage) increases Friday by 2%, or 27.61 euros per month, two months in advance as announced by the Prime Minister, while private sector supplementary pensions are up 1.6%.
This was a promise made by Michel Barnier during his general policy statement at the beginning of October: to anticipate the 2% increase in the minimum wage by two months, i.e. at the level of inflation.
In France, the minimum wage is the only salary indexed to inflation. Thus, it benefits from a mechanical increase each year on January 1st and revaluations also occur during the year as soon as inflation exceeds 2%.
Thus, two months in advance, the minimum wage goes from 1,398.69 euros net per month to 1,426.30 euros, an increase of 27.61 euros per month.
The number of employees paid the minimum wage has increased sharply in France. As of January 1, 2023, 17.3% of employees were affected.
The minimum wage has increased eight times since January 2021, including four times during the year due to inflation. The last revaluation was on January 1st.
As the minimum wage increases faster than the rest of the salaries, certain branch minima are caught up. The branches are thus regularly reminded to order by the government.
“While the French economy is the second in Europe, our minimum wage is only the sixth at the European level”, denounced the CGT in a press release, estimating that “France is becoming a country of social understatement, of 'low cost', which is deindustrializing”.
On the pensioners' side, the supplementary pensions of former private sector employees are being increased by 1.6% as of November 1, i.e. 0.2 points below the inflation forecast by INSEE for 2024 (1.8%).
This increase is equivalent to an increase of 13 euros per month on average, for a supplementary pension of 800 euros, according to a source close to the board of directors of the Agirc-Arrco scheme.
The supplementary portion of the pension for private sector employees represents between 20% and 60% of the total pension, depending on the person.
To make savings, the government has however announced that it intends to defer until July 1st the reassessment of general scheme pensions scheduled for January 1st, a measure that will allow it to save 4 billion euros for the Social Security budget in 2025.
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