Among the long list of consequences linked to the pension reform, the raising of the legal retirement age from 62 to 64, the increase in the duration of insurance and the abolition of special schemes are already part of the measures assimilated by the French. However, while social mobilization remains strong to counter this controversial reform, other effects are gradually being revealed. In this context, postponing the legal retirement age to 64 could have a significant impact on your credits and insurance. Decryption.
The French are not weakening and, at the moment, the mobilization remains very important to demand a withdrawal from the pension reform. It must be said that the government did not choose the path of appeasement by resorting to section 49.3 to avoid an uncertain vote in the National Assembly. If the social movement continues, the executive remains, for its part, inflexible in the face of this anger which is swelling day by day. While the text is already hotly contested, the gradual discovery of the unintended consequences of this reform is causing even more turmoil.
Thus, the main concerned have just discovered that the pension reform was already going to increase their pension contributions. As the complementary health and welfare group Malakoff Humanis expressed, raising the legal retirement age could create a 6% increase. This increase in the retirement age will also have an impact on borrower insurance when buying real estate, which would also increase.
The postponement of the legal retirement age will, in fact, have an undeniable impact on mortgages, which are likely to increase. Borrower insurance, taken out during a long-term mortgage, could thus be used more with more frequent temporary or total incapacity for work.
The coverage of two additional years of work will therefore be subject to an increased possibility of recourse to this insurance. The comparator Magnolia, specializing in the comparison of loan insurance, thus expressed itself on this question by posting an increase of around 2 to 5%.
However, this increase should be limited to a certain number of insurers. Banks should, for example, take advantage of the “technical margin” of the establishment, as Magnolia reminds us, to avoid an increase. The so-called “alternative” insurers, on the other hand, could, for their part, assume a large part of this increase in rates, sometimes to the detriment of customers, who came to seek more affordable rates.
At the policyholder level, it is borrowers in their forties who will mostly suffer this increase by 2030. The Magnolia site has therefore taken the example of a 40-year-old buyer wishing to borrow 200,000 euros over 25 years. His borrower insurance would thus increase from 29 euros per month to 30.45 euros, which would increase by 435 euros in 25 years.
