If the share of part-time workers has been decreasing for five years, it still stood at 18.1% in 2019 according to INSEE, against 19% in 2014. In total, 4.9 million French people have thus opted for part-time jobs. 3.8 million of them (76%) are occupied by women. Among the factors explaining this gap, we can cite wage inequalities or imbalances in the management of domestic tasks. As noted by the Center d’observation de la société, “part-time work brings together very different realities, from the job occupied for lack of anything better while waiting for full-time work, to part-time work chosen to devote oneself to activities other than at work”. “On average, just under three in ten part-time employees say they want to work more and are considered part-time “suffered””, can we read on the site.
However, this choice, whether imposed or desired, can have a considerable impact on the amount of the pension.
As for other assets, an employee working part-time must contribute on the basis of a minimum wage equal to 150 times the hourly minimum wage to validate a quarter of retirement. In 2022, the rule is therefore as follows:
The gross hourly minimum wage having been set at €10.85 since May 1, 2022 (compared to 10.57 on January 1), it is necessary to earn €1,627.50 in gross salary (150 x 10.85 euros) to validate a quarter, within the limit of 4 per year.
Problem, the remuneration of a part-time is often insufficient to validate 4 quarters per year, warns the specialized site Retraite.com.
Thus, if you work permanently part-time, you risk missing quarters to reach the full rate at the legal age, currently set at 62 years. Especially since the contribution period is gradually increasing for people born between 1958 and 1973. It will increase from 41.5 years to 43 years from 2020 to 2035.
How to calculate your future pension for a part-time job?
Retirement pensions for active workers working part-time are calculated in the same way as for those working full-time:
Basic pension = Average annual income X rate X (Number of quarters acquired / Number of quarters required)
As a reminder, the average annual income is calculated on the basis of the best 25 years of wages. Have you worked for less time in the private sector? All your years will then be taken into account.
As for the maximum liquidation rate, it is 50% of the average annual income for private sector employees. If you have acquired the number of quarters required to receive a full pension, you will benefit from a full pension (without discount). If this is not the case, you will suffer a reduction on your basic pension, proportional to the number of missing quarters.
Consider using a simulator to estimate your future pension. Do you think it is too low? Here are different ways to optimize it.
Gradual retirement, benefiting 22,000 people (data at the end of 2019) can be interesting for part-time employees.
Accessible two years before the minimum legal retirement age, i.e. from the age of 60 (and from the acquisition of 150 quarters of all plans combined), this system allows you to end your career smoothly, while continuing to accumulate pension rights. You can thus receive part of your retirement pensions in addition to your current salary, up to the age of 67 if you wish. Ultimately, your future retirement will also be higher.
To optimize your pension level, you can ask your employer to pay a premium for your retirement. If this mechanism increases his employer’s old-age insurance burden, it is possible to convince him. On the other hand, on your side, you will have a lower net salary. In the event that this does not affect your monthly budget too much, the game may be worth the effort, as it will allow you to validate more quarters, essential to hope for a better pension.
You can also think about buying quarters. “Simulate via your online account how much it would cost you in relation to the effect it will have on your future retirement. Don’t stop at the cost of the purchase (which is tax deductible), but calculate the return on investment: in how many Years will it be amortized? Is it really worth it? Make your choices in conscience”, advises in our columns Dominique Prévert, partner of the firm Optimaretraite.
