Pay attention to this table comparing the years of contributions in Europe

Comparing pension schemes in Europe is always dangerous. Emmanuel Macron sought to secure a reform of the pension system at the end of March, raising the retirement age to 64, the law of which was promulgated on April 14. A difficult exercise because the rules vary by country, explained political scientist Bruno Polier. On Facebook, a viral post that has been shared more than 40,000 times attempts to do so using dated or truncated data.

If we look at this table, our European neighbors have fewer years than the French (43 years are indicated in the table, to understand in a general sense, annuities depending on the duration of the insurance) the age of entering the plan). Therefore, the Germans contribute only 35 years according to this table, the Spaniards, 37, Greece, Portugal and Hungary, 40 years, Italians, 42 years.

Fake off

But these data are either inaccurate or do not take into account the specific provisions of pension schemes. A Working document The Pensions Orientation Council (COR), dated January 2022, examined the question of retirement age and duration in eight European countries, Canada and Japan.

A table posted on Facebook compares legal age of departure and years of contribution. Two interesting entries, but in view of the large differences between pension systems, the points need to be clarified. COR explains that the legal age of departure allows international comparisons “with relatively little ambiguity, but they do not take into account actual behavior in relation to pensions”. Other indicators are usually retained, such as the effective age at which entitlements are paid or the end of the labor market.

At what age do we retire?

As for the legal age for unlocking rights, there are several possible variables depending on the country: the age at which one can acquire pension rights, the age at which one can receive a full-rate retirement pension, the activation of the age bonus or even the automatic retirement age. In addition, there is the possibility of early retirement under certain conditions of insurance or career duration.

For example, for Italy, legislative texts have taken the lead for a gradual decline in rights opening up to 2050. COR details this information in the chart below.

Incorrect data and comparison

In social networks, the presented table does not take into account these specifications, and compares the statistics incorrectly. So in Germany, you must have contributed 45 years to get out at the full rate. From the age of 63, as mentioned in the table, one can leave only with 35 years of contribution, but then there will be a reduction in pension. The unconditional qualifying age is 65 years and ten months (not 62).

In France, the legal age will be gradually raised from September 1, 2023, to reach the target of reaching the age of 64 by 2030, with a statutory declaration. Contribution years. For longer jobs, it is possible to exit slightly earlier depending on year of birth, age at labor market entry and quarters contributed (CFDT describes this Here is a table)

High starting age, but participation is low in Italy and Spain

In Italy, the system is a little more complicated: the unconditional departure age is 67 (and not 66), but early departure is possible regardless of age from 42 years and 10 months. Contribution for males and 41 years and 10 months for females. There are also early retirement plans with specific criteria. The retirement age will be gradually raised to 69 in 2050.

In Spain, according to a 2011 reform, the retirement age is being gradually raised to 67 in 2027. In 2023, if the contribution period is less than 37 years and nine months, the entitlements will be set at 66 years and four months. Spain’s Ministry of Labor notes His website. One can retire early at the age of 65 if he has contributed 37 years and nine months or more. Adopted in March 2023, the leftist government’s reform, which did not spark protests, did not affect the retirement age. In particular, higher income plans contribute more to the financial balance of the system.