Good for agreement. Three weeks after the end of the negotiations held at the beginning of October, the CGT announced its decision to sign alongside the four other employee unions the text on the revaluation of Agirc-Arrco supplementary pensions.
Endorsed by Medef, the majority employers’ union, the agreement provides in particular for an increase of 4.9% in the supplementary pensions of former private sector employees. This, from November 1st.
But also, the removal of the “malus”, this temporary reduction of 10% which has applied since 2019 to the pensions of many retirees who have left having met all the legal conditions. A measure which will take effect from December for new retirees before being generalized to all retirees concerned next April.
An expected decision
“Following a consultation of all its federations and departmental unions, the confederal leadership of the CGT has decided to sign the Agirc-Arrco agreement,” declared the union in a press release published Wednesday October 25 .
This outcome is not surprising, the CFDT, FO and the CFTC – which represent a majority of employees in the private sector – having quickly announced that they would sign it. The CFE-CGC, which represents executives, had also announced its desire to endorse it.
An agreement signed “with significant reservations”
But, in an interview published in The echoes Wednesday October 25, the general secretary of the CGT, Sophie Binet, warns: “The CGT signs the agreement to prevent the government from stealing money from employees and retirees by draining Agirc-Arrco.” A direct reference to the government’s stillborn plan to draw on the coffers of the private sector’s supplementary pension fund, whose war chest reaches 68 billion euros.
In addition, while congratulating herself on having allowed a 4.9% increase in supplementary pensions, Philippe Martinez’s successor assures that she signed “with significant reservations linked to the drop in yield which will continue”.
A phenomenon regularly decried by the union, which affirms that, “in 1993, 100 euros of contribution gave entitlement to more than 11 euros of pension [et que] it’s 7.43 euros today”. Which equates to a drop of around 32% over thirty years.