GenerationLibre wishes that every French citizen, provided with a personal contribution account, be able to retire when he wishes to do so.
The current French pension system is deeply unfair but also unable to meet the challenge of population aging.
The new universal pension system thought by GenerationLibre radically shifts the logic. The current statutory retirement age and the requirement for a minimum length of contribution are abrogated. Each participant in the system would be able to retire at its own convenience.
The pension amount is calculated dividing the total sum of cumulated individual contributions by the remaining life expectancy at the time of rights’ activation.
The new pension system suggested by GenerationLibre performs the best combination of two worlds : the stability of a state-run scheme coupled with a fair capitalization of the retirement rights individually collected.
To secure the system’s financial balance, the pensions’ amount distributed each year can’t exceed the contributions’ sum provisioned over the same year.
An intragenerational redistribution ensures a basic and minimal income to all pensioners.
Several options are outlined to meet the particularities of specific professional and individual career paths. Painful working conditions, for example, are taken into account by a mechanism of excess contributions funded by the employer so that involved employees can retire earlier or benefit from a higher pension.