A long-standing claim of the Union of Trade Unions of Monaco (USM) and the Union of Retired Persons of Monaco (URM), the revaluation of retirement pensions has recently been obtained. Since 1uh April, in fact, the CAR point increased by 2% from €19.33 to €19.72.
A decision ratified, on March 24, by the control committee of the Autonomous Pension Fund after consultation with the social partners concerned, including the funders of the scheme. It concerns more than 33,000 retirees, former employees of the country.
“This demand for progress is only fair for those who have spent a large part of their life at work, sometimes in difficult conditions, reacted, in a press release, the USM. Consequently, retirement should not be synonymous with precariousness and loss of purchasing power; on the contrary, it should be a sign of well-deserved rest and allow people to live with dignity until the end of their lives. This upgrading is a first step, it must continue. »
A budget of 3 million euros for the State
For Didier Gamerdinger, government adviser – Minister of Social Affairs and Health, the request for a financial boost was “legitimate account in view of rising inflation”, in this case +3.6% in February 2022 compared to last year. “We just had to check if it was legally and budgetary possible because this decision was made in the middle of the budget year”, he explains.
The potential legal obstacle was quickly removed since such a decision had already been taken in the past. “The last time was for the oil shock of 1986. At the time, inflation rates hovered between 9 and 13%”explains Bernard Crovetto, director of Monaco’s Social Funds.
New revaluation of the point in September?
The budgetary impact of this measure, meanwhile, has been calculated at 3 million euros for the period from April to September 2022.
An additional financial gesture could take place in September, during the next session of the control committee of the Autonomous Pension Fund.
“He committed, in majority, to reviewing CAR’s financial situation to meet the demand of USM and URM, which was 3%, and to give a boost to the value of the point. , had detrimental to the meteoric rise in the cost of livingconfirms the USM. Our delegation will ensure, in the coming months, the proper application of these measures. [en plus de la gratuité des bus, lire ci-dessous] which should lead to the improvement of the quality of life of the country’s retirees.”