Discover in this article everything you need to know about the legal framework for "phased retirement" and how it relates to Airbus's end-of-career measures.
Phased Retirement
Phased retirement is a legal framework (not unique to Airbus) that allows you to manage the end of your career by transitioning to part-time work while beginning to receive a portion of your pension.
You can benefit from phased retirement if:
- you are at least 60 years old;
- you have accumulated at least 150 quarters of contributions across all your basic pension schemes;
- you are employed part-time (or you switch to part-time work at the time of your application for phased retirement)
Your part-time work must be between 40% and 80%, and you will receive a portion of your pension on the unworked portion. For example, 60% work + 40% of your pension, or 80% work + 20% of your pension.
To determine the amount of your phased retirement, a provisional pension is calculated based on your entitlements at the time of your application.
You continue to contribute to your pension as long as you work part-time. When you apply for your full pension, its amount will be recalculated taking these contributions into account.
Please note that you can also continue to contribute to your pension based on your full-time salary, which allows you to receive a pension of the same amount you would have received working full-time.
To apply for phased retirement, go to www.lassuranceretraite.fr > "Apply for phased retirement".
You must apply 5 months before your chosen retirement date.
Interaction between phased retirement and Airbus end-of-career measures
This is a particularly interesting point that raises many questions. FO explains everything!
First, please note that Airbus's end-of-career measures cannot begin more than 3 years before your retirement date.
Phased retirement requires a transition to part-time work. It can be combined with the following Airbus end-of-career measures:
- End-of-career part-time work at 80% (paid at 84%)
- Part-time Long Term TSA (50% to 80% inclusive)
- Subsidized part-time work at 50% to 80% inclusive (paid at 55% to 88%)
For example, if you choose the 80% end-of-career part-time work together with phased retirement, you will receive 84% of your salary from Airbus plus 20% of your pension, for a total of approximately 95%* of your full-time Airbus salary.
This is therefore a particularly advantageous combination, since a 80% part-time schedule also grants you 44 days of rest for a full year, in addition to 25 + 5 paid leave days and JRTT days prorated to your time worked.
* Gross salary €4,000 => 84% of salary paid by Airbus = €3,360; pension calculated at the time of transition to phased retirement = €2,200 => 20% phased retirement = €440. Therefore, a total of €3,360 + €440 = €3,800, or 95% of the full-time salary of €4,000.
Subsequently, after your part-time period, you can discontinue phased retirement (by informing Cnav/Carsat) to benefit from the following full-time Airbus end-of-career measures:
- Full-time Long Term TSA
- Conversion of the retirement lump sum (IDR) into days of inactivity
- Early retirement
We remain at your disposal to best support you during this important life transition. Our retirement experts have a thorough understanding of these topics and use our unique "MyFO-Retraite" simulator to create your personalized retirement plan with you.
See you soon!
