France (FR)
France is a unitary semi-presidential republic and the EU's most visited country, renowned for its world-class cuisine and wine, the iconic City of Light that is Paris, the French Riviera, iconic Alpine ski resorts, and a generous social state offering universal healthcare, extensive family benefits, and strong worker protections.
Retirement & Pension in France
State pension, contribution refunds, private pension vehicles, and international agreements.
France operates one of Europe's most complex retirement systems: a pay-as-you-go base pension (régime général CNAV for private-sector, SRE for civil servants, MSA for agricultural, plus numerous régimes spéciaux) + mandatory complementary pension (AGIRC-ARRCO for private-sector employees since the 2019 merger) + voluntary individual pension (PER — Plan d'Épargne Retraite, since loi PACTE 2019). The 2023 pension reform (loi du 14 avril 2023) progressively raised the legal retirement age from 62 toward 64 and increased required trimestres toward 43 years (172 trimestres). IMPORTANT 2026 UPDATE: The Loi de Financement de la Sécurité Sociale (LFSS) for 2026 suspended this upward calendar for generations born 1964–1968, freezing the legal age at 62 years and 9 months (from 1 September 2026 until January 2028). The age of 64 applies only to those born 1969 and later. The PASS (Plafond Annuel de la Sécurité Sociale) is €48,060 in 2026. For expats, key points are: portability within the EU under Regulation 883/2004; bilateral conventions with 40+ third countries allowing totalisation; no contribution refund option; and the importance of tracking your relevé individuel de situation (RIS) across all regimes.
State Pension
Every employed and self-employed person in France contributes via URSSAF to the régime de base (CNAV in regions via CARSAT) and to the régime complémentaire (AGIRC-ARRCO for salariés du privé, or equivalent for other sectors). Rates 2026 for salariés: CNAV base — employee 6.90% up to PASS (€48,060) + 0.40% uncapped; employer 8.55% up to PASS + 1.90% uncapped. AGIRC-ARRCO — tranche 1 (up to 1 PASS): 7.87% total (60% employer / 40% employee); tranche 2 (1 to 8 PASS): 21.59% total (60% employer / 40% employee). Base pension formula: Salaire Annuel Moyen (SAM — average of best 25 annual salaries, each capped at PASS €48,060) × taux (max 50% at taux plein) × (trimestres validated ÷ trimestres required for taux plein). AGIRC-ARRCO is points-based: contributions buy points at a valeur d'achat; converted at retirement at valeur de service (updated annually). Track all regimes at info-retraite.fr (Mon compte retraite portal).
Legal retirement age (âge légal) — 2026 position after LFSS 2026 suspension: born 1961 (Sept–Dec): 62y3m; born 1962: 62y6m; born 1963: 62y9m; born 1964: 62y9m (suspended from 63y per 2023 reform); born 1965 (Jan–Mar): 62y9m; born 1965 (Apr–Dec): 63y; born 1966: 63y3m; born 1967: 63y6m; born 1968: 63y9m; born 1969+: 64y (full target of 2023 reform). The LFSS 2026 freeze applies from 1 September 2026 until January 2028 for generations 1964–1968, reverting their ages one quarter earlier than the 2023 reform had scheduled. Full-rate age without sufficient trimestres: 67 years (unchanged). Départ anticipé for long careers (carrière longue): from 58–62 depending on when work began (before age 16/18/20/21) and total trimestres validated. Travailleurs handicapés: from 55 with 30 years and ≥50% disability. Pénibilité (C2P points): advance up to 2 years. Carrière incomplète after legal age: decote 1.25% per missing trimestre, capped at 25%.
No minimum trimestres to receive a French pension — you can receive a pro-rata pension based on as few as 1 trimestre validated. To validate 1 trimestre, you must earn at least 150 × SMIC horaire in a calendar quarter (approximately €1,800+ gross in 2026, verify against current SMIC); maximum 4 trimestres per calendar year regardless of income. Trimestres assimilés (equivalent quarters) credited for: maternity/adoption (up to 8 per child), illness/accident, unemployment (chômage indemnisé), military service, vocational training, parental leave (AVPF via CAF). Minimum contributif (MICO) 2026: €756.29/month (taux plein, basic rate); €903.93/month (majoré, for those with at least 120 trimestres cotisés). These amounts cannot push total pension above €1,410.89/month.
Every insured person receives an annual Relevé Individuel de Situation (RIS) by post from age 35 (every 5 years) and from age 55 an Estimation Indicative Globale (EIG) projecting the pension amount. Online: info-retraite.fr provides a unified 'Mon compte retraite' portal covering all regimes — M@rel simulator allows detailed projections. Services include 'Demander ma retraite en ligne' (apply online 4–6 months before retirement) and 'Renseigner ma carrière' to correct errors. Expats abroad can log in via FranceConnect or a dedicated username.
France pays pensions worldwide (one of the most open systems). Via SEPA (EU/EEA/UK/Switzerland): direct transfer in EUR at no cost. Outside SEPA: SWIFT transfer in local currency, typically monthly. Proof of existence (certificat d'existence) required annually — submitted via GIP Union Retraite portal or the country's local mayor/consulate. Withholding tax: if non-tax-resident in France, a 12.8% default withholding applies, often reduced or eliminated by tax treaty. In most treaty countries, pensions are taxable only in the country of residence — obtain Form 5000/5002 visé by your foreign tax office to avoid double taxation. CSG 9.1% / CRDS 0.5% / CASA 0.3% apply only if you are covered by French Assurance Maladie for costs; otherwise exempt.
Pension Contribution Refund on Leaving France
NONE — unlike some non-EU countries, France does NOT offer pension contribution refunds. Once paid, cotisations are definitively acquired. You retain pension rights regardless of where you retire, but you will receive them only from the legal retirement age and only through the formal pension process. This is true for all nationalities, including non-EU/EEA citizens who have left France permanently.
Applies to everyone. No category is eligible for a refund of social contributions paid to the French system.
N/A — not applicable since no refund exists.
Nothing is refunded. However, your contributions remain 'dormant' in the French system: a single trimestre stays on your record forever and produces a pro-rata pension at retirement. For example, 8 trimestres (2 years) contributed will yield a small pension payable worldwide after age 62–67 depending on year of birth.
N/A. Instead, at retirement age, apply via info-retraite.fr (Demander ma retraite en ligne) regardless of your country of residence. Required documents: ID, relevé individuel de carrière, foreign residence proof, RIB (French or foreign), birth/marriage certificates, bulletins de salaire if reconstitution needed.
For short-term workers in France (1–5 years), the French pension at retirement may be small — but it remains worth claiming. Combined with pension rights from other EU countries (under Regulation 883/2004) or from countries with a bilateral convention (USA, Canada, Japan, Australia, etc.), your French trimestres may help meet minimum thresholds abroad or supplement your total retirement income. CLEISS (cleiss.fr) provides free coordination advice.
International Totalization Agreements
France has coordination with all EU/EEA countries + Switzerland + UK (post-Brexit trade agreement) via Regulation (EC) 883/2004 and 987/2009 — contributions are totalised across countries for minimum thresholds, each country pays its pro-rata share. Bilateral social security conventions outside the EU with 40+ countries including: USA (1988), Canada/Québec (1981), Chile, Argentina, Brazil, Uruguay, Japan, South Korea, Philippines, Israel, Turkey, Morocco, Tunisia, Algeria, Senegal, Mali, Madagascar, Côte d'Ivoire, Cameroon, Benin, Congo, Gabon, Togo. Conventions typically: prevent double contribution during secondment (up to 3–5 years), totalise periods for minimum pension eligibility, allow payment abroad. Full list and simulation: CLEISS (cleiss.fr) — Centre des liaisons européennes et internationales de sécurité sociale, the official French coordination body.
Private Pension Vehicles
Plan d'Épargne Retraite (PER) — Individuel
PER Individuel (ex-PERP, Madelin, PERCO depuis loi PACTE 2019)Any French tax resident. Particularly attractive for: high earners in 30%+ IR brackets, self-employed who cannot access collective schemes, those wanting tax deferral. Since 2019 the PER unified PERP (salarié), Madelin (indépendant) and PERCO (épargne salariale) into a single portable product with 3 compartments. Note from 2026: contributions made after age 70 are no longer deductible (LFSS 2026 new rule).
No direct subsidy. Benefit is entirely through tax deduction on entry (or on exit if upfront deduction was not taken).
Contributions deductible from revenu net global (article 163 quatervicies CGI). Plafond 2026 for salaried workers: 10% of net professional income from 2025 (previous year), capped at 8 × PASS 2025 = €37,680 (the ceiling uses prior-year PASS of €46,368... note: the ceiling for 2026 declarations uses the PASS of the year prior to contribution, i.e. PASS 2025 = €46,368 for the cap calculation, giving 8 × €46,368 × 10% = €37,094; minimum floor = 10% of PASS 2025 = €4,637). Self-employed (TNS): more generous formula — 10% of PASS 2026 OR 10% of net professional income up to 8 × PASS 2026, plus an additional 15% on the fraction between 1 PASS and 8 PASS. A 30% IR bracket saver contributing €10,000 saves approximately €3,000 in immediate income tax. On exit: lump sum or rente viagère, taxed as pension income (after allowance); alternatively exit as capital gains if upfront deduction was waived.
Salaried workers: approximately €37,080–€37,680/year depending on PASS year used in calculation. Self-employed: up to approximately €88,000+/year at high income levels. Minimum floor: 10% of prior-year PASS (approximately €4,637) for those with no professional income.
Fully portable to another PER within France. On leaving France: PER remains under French tax jurisdiction; exits are taxed on withdrawal. If you are a non-French tax resident when withdrawing, prélèvements sociaux (17.2%) on gains typically apply; income tax follows the applicable double taxation treaty.
The 2019 loi PACTE made the PER highly flexible: exit in capital (up to 100% at retirement age) or rente viagère. Sortie anticipée allowed for: purchase of principal residence (capital portion), death of spouse, invalidity, expiry of chômage indemnisé rights, judicial liquidation, surendettement. New 2026 rule: contributions after age 70 are no longer deductible. Major low-cost online providers: Linxea, Yomoni, Nalo, Ramify — all-in costs 0.5–0.8% vs 1.5–3% for traditional insurer products.
Plan d'Épargne Retraite Collectif (PER Collectif / ex-PERCO)
PER Collectif (ex-PERCO)Employees whose employer has set up a PER Collectif (optional scheme — rare in SMEs, common in large companies). Companies with 50+ employees must offer profit sharing (participation) and may propose its investment in PER Collectif.
Not a direct state subsidy, but abondement de l'employeur (employer match) up to 3 × employee contribution, capped at 16% of PASS = €7,689.60 in 2026 (16% × €48,060). Employer abondement is exempt from income tax for the employee (only CSG/CRDS of 9.7% applies).
Employee voluntary contributions: same 10% × net professional income deduction as PER Individuel. Participation and intéressement invested in PER Collectif: exempt from income tax on investment; gains taxed at 17.2% CSG only on exit. Combined with employer abondement, this is a powerful accumulation vehicle.
10% × net professional income up to 8 × PASS for voluntary contributions; separate abondement ceiling of 16% × PASS = €7,689.60 in 2026.
Fully portable within France to another PER when changing employer. Transferable to a PER Individuel. Maintain the product after leaving France — access at retirement age.
If your employer offers participation, intéressement, or abondement and you do NOT contribute, you are leaving money on the table. Participation is obligatoire in firms with 50+ employees; intéressement is optional but increasingly common. Abondement particularly from tech and consulting firms in France can reach thousands of euros per year tax-free.
Plan d'Épargne Retraite Entreprise Obligatoire (PER Obligatoire / ex-Article 83)
PER Obligatoire (ex-Article 83)Employees enrolled in a mandatory company pension scheme, most often executive cadres. Classic in CAC40 and insurance/banking sectors. Employer contribution obligatoire, often supplemented by employee contributions.
None directly. Employer contributions are exempt from income tax up to 8% of gross salary capped at 8 × PASS.
Employer contributions: tax-free for the employee within limits. Employee contributions: deductible from revenu net global like PER Individuel. On exit: mandatory rente viagère for the compartment formed from employer contributions (no lump sum possible), taxed as pension income.
Subject to article 83 rules: up to 8% of gross salary, capped at 8 × PASS €48,060 = €384,480 gross salary ceiling.
Compartment is transferable to an individual PER if you leave the company. Within the EU, rights follow you under Regulation 883/2004. Outside EU, rights remain in France and are paid abroad at retirement.
Tends to be buried in the convention collective (CC) or employment contract — check your company's avantages sociaux page. Cadres at grandes entreprises often have both a PER Obligatoire and a PER Collectif in parallel.
Assurance-vie
Assurance-vie (contrats multi-supports ou en euros)Anyone. Not a dedicated pension product but used by 40% of French households as a de facto long-term savings vehicle — versatile, tax-advantaged after 8 years, portable. Key complement or alternative to PER for those wanting flexibility.
None.
Gains taxed at PFU 30% or income-tax option + PS 17.2%. After 8 years: annual exemption €4,600 single / €9,200 couple on gains on withdrawal; beyond, reduced rate 7.5% on first €150,000 of premiums. Succession: €152,500 abatement per beneficiary on premiums paid before age 70 (article 990 I CGI) — highly tax-efficient for transmission to children, PACS partner, or non-family beneficiaries.
No legal ceiling. Premiums up to €152,500/beneficiary before age 70 benefit from optimal succession treatment.
Fully portable abroad — you keep your assurance-vie when leaving France. If you become non-tax-resident, French PFU may reduce to treaty rate; check double taxation convention. Some online providers (Linxea, Boursorama Vie) accept non-residents; traditional insurers may close accounts to non-EU residents.
For expats uncertain about long-term French residency or who want flexibility, assurance-vie is often preferable to PER because: (a) no lock-up (withdrawable anytime), (b) favourable succession treatment, (c) no upfront tax binding. Best-in-class low-cost providers: Linxea Spirit 2 (Apicil), Yomoni Vie, Boursorama Vie.
PEA (Plan d'Épargne en Actions)
PEA / PEA-PMEFrench tax residents wanting to invest in European equities with tax advantages. Often used alongside PER for retirement planning. Maximum 1 PEA per person.
None.
Dividends and capital gains on eligible European shares tax-free after 5 years (only 17.2% CSG/CRDS on gains at exit). Withdrawals before 5 years close the PEA and trigger 30% PFU or tax schedule on gains. After 5 years: partial withdrawals keep PEA open. PEA-PME adds €225,000 ceiling for SME investments.
€150,000 (PEA classique) + €75,000 (PEA-PME) = €225,000 total.
Restricted to French tax residents for new contributions. If you leave France, the PEA can stay open but you cannot add more. Withdrawals post-5 years retain tax advantage. Some brokers automatically close PEAs upon residency change.
Ideal for long-term European equity exposure via ETFs (CW8, ESE, etc.). Combined with assurance-vie and PER, forms a 3-layer retirement architecture for motivated long-term French residents.
Early Retirement Options
Carrière longue (dispositif since 2003, revised 2023): départ at 58/60/62/63 depending on age of entering work (before 16/18/20/21) and total trimestres validated. Travailleurs handicapés: départ possible from 55 with 30 years including 10 at 50%+ disability. Incapacité permanente (accidents du travail): retirement from 62 if IP ≥ 20%. Pénibilité (C2P points): 2 years anticipation maximum. Retraite progressive (phased retirement): from 60 with 150 trimestres validated, part-time work with pro-rata pension — available under the 2023 reform framework. For generations affected by the LFSS 2026 suspension: early retirement rules adjust proportionally to the frozen legal ages. Note: the LFSS 2026 also reduced the required trimestres for generations 1964 and 1965 by one quarter each (170 instead of 171 for 1964; 171 instead of 172 for 1965).
Pension Gap Warning
The French statutory pension provides a gross replacement rate of approximately 55–60% of last salary for a full-career private-sector employee — higher than most comparable EU countries. However: (1) the 2023 reform delays retirement, even if partially suspended by LFSS 2026 for some generations; (2) pension indexation was below inflation in several recent years (though +3.2% was applied in January 2026); (3) career breaks (expatriation, freelance gaps, unemployment beyond indemnification) erode trimestres; (4) high earners face rapid decline in replacement rate above 1 PASS (€48,060 in 2026) since base pension caps at 50% of PASS; (5) AGIRC-ARRCO point value growth has been deliberately restrained versus wages. Recommended 3-pillar approach: base CNAV + AGIRC-ARRCO (compulsory) + PER Individuel/Collectif + assurance-vie for flexibility. For expats who spend only part of their career in France, the private pillar is even more critical. Use info-retraite.fr simulator annually. Important: contributions after age 70 are no longer deductible on the PER from 2026 — plan contributions earlier.
Useful Links
Retirement & Pension
Unlock the complete Retirement & Pension guide for France — including every detail, document, tip and link you need.
Become a SupporterSupport the guide on Ko-fi · Unlocks every premium section, everywhere