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Pension amounts, Fabien Roussel

Minimum pension: No pension below the SMIC « quand on a travaillé toute sa vie » [“when you have worked all your life”]

Direction of change: increase, compared with current law.

The lever. Minimum pension guaranteed to a person with a full career, often expressed in euros or as a share of the SMIC (minimum wage). Direction rule: ↑ higher minimum.

« Et concernant nos retraités, nous voulons une hausse des pensions afin qu'il n'y ait plus aucune retraite en dessous du SMIC. Quand on a travaillé toute sa vie, c'est légitime. »1

Translation by the editorsAnd as for our retirees, we want an increase in pensions so that there is no longer any pension below the SMIC. When you have worked all your life, it is legitimate.

Words of Fabien Roussel, pcf.fr, « Université d'été 2026 - Discours de Fabien Roussel » (Toulouse), 26 August 2026. Position taken from public statements, not from a written programme.

No programme released. Positions taken from public statements, words of associates or documents of the candidate’s party, each dated and sourced; last recorded on 18 October 2026.

Encoding

ParameterCurrent lawProposedEffective date or horizon
Increase in the guaranteed minimum pension for a full career0 €/month222 €/month* (outside the range measured by the source: linear extrapolation) (assumption by the editors, see the costing)Full year, €bn per year

Costing

Announced by the candidate

not announced

The cited source does not cost this measure.

Published costings

none

No external costing of this position recorded to date.

Our calculation

−€7.8bn* (outside the range measured by the source: linear extrapolation)

per year for the public accounts, new spending, range −€12bn to −€4bn.

* Outside the range measured by the source: linear extrapolation (measured range: 0 to 100 €/month).

The calculation

  • Increase in the guaranteed minimum pension for a full career: (222 − 0) ÷ 100 = 2.22 times “+€100 a month in the guaranteed minimum pension for a full career”, each a cost of €3.5bn (1.8 to 5.2). Proposed value outside the range measured by the source: linear extrapolation (measured range: 0 to 100 €/month). Range calculated for +€100 a month. Beyond that, linear extrapolation, flagged as such.

Assumption by the editors. Partial costing. Reading adopted, judging by the following sentence (« quand on a travaillé toute sa vie » [“when you have worked all your life”]): total pension for a full career raised at least to the current net SMIC (€1,477.93), starting from the target of the 2023 law (85% of the net SMIC, i.e. €1,256), hence +€222 a month of guaranteed minimum pension; beyond +€100 (range of the coefficient), linear extrapolation. The 85% target is an objective, not a guaranteed amount: the actual gap varies by career. Not costed: the SMIC at €1,700 net targeted in the same speech, which would raise this minimum further. Central value of the coefficient adopted: its upper bound, according to the cost schedule itself, overstates the cost (it assumes that all beneficiaries receive the full increase). External benchmark, not counted: the Institut Montaigne costs the increase of the contributory minimum pension (minimum contributif) to the level of a €1,600 net SMIC for full careers at €13.9bn a year by 2027 (increase of €286 a month applied to €7.7bn of minimum contributif spending; 2024 legislative elections, Nouveau Front populaire page on pensions).

Coefficient calculated by the editors from Cour des comptes, Situation financière et perspectives du système de retraites, note 14: the position is marked as an assumption by the editors.

Current law, sources and limits of the cost schedule

Current law. Contributory minimum (MiCo) of the aligned schemes, Art. L. 351-10 CSS (Social Security Code): €733.03 per month in 2024 (Cour des comptes), pro-rated if the career is incomplete. The 2023 Act raised the MiCo by €25 and the enhanced MiCo by €75, with a target of a total pension of 85% of the net SMIC (€1,193 in September 2023) for a full career contributed at the SMIC. The enhanced MiCo is now indexed to the SMIC. Separately, the minimum old-age income (ASPA) is €12,523.14 per year for a single person (service-public, February 2026).

Horizon. Full year, €bn per year. The lower bound is costed for 2030, the upper bound in 2018-2022 euros.

Limits. High uncertainty. The lower bound corresponds to the 2023 measure: up to +€100 for new retirees and an uprating of the minimum amounts for current retirees, €1.8bn in 2030. But only 125,000 retirees actually receive the €100. The upper bound applies Montaigne's rule to the MiCo (minimum contributory pension): €7.0bn of spending × 100 / €134 average MiCo. It overstates the cost, as it assumes that all recipients receive the increase. The central value is the midpoint of this range, not a published figure. No published costing covers +€100 for everyone: the Institut Montaigne (€1.3bn in 2022) costs a €20-per-month increase in the minimum (its rule gives €6.5bn for +€100 with an average MiCo of €110); the Senate (€1.8bn in 2030) costs the 2023 measure, on average €400 a year for 1.8 million retirees; iFRAP (€2bn) publishes no method. Options withdrawn on 13 October 2026, because they were costed against the law as it stood in 2022: a minimum pension of €1,400 for a full career (Montaigne, €12.05bn, on the MiCo and the enhanced MiCo prior to the 2023 act) and the minimum old-age income raised to about €1,041 to €1,100 (Montaigne, €0.67bn, on an ASPA of €917 per month). The 2026 law has changed both starting points (enhanced MiCo at €903.93 per month on 1 January 2026, ASPA at €1,043.59) and no source read costs these measures against it: the positions targeting them are not costed. The target of 85% of the net SMIC in the 2023 act is an objective monitored in a report to Parliament (total pension, basic and supplementary, for a full career at the SMIC), not a guaranteed amount. The cost also depends on the population covered (existing or new retirees), on the condition of 120 contributed quarters and on the inclusion of civil servants (guaranteed minimum, €1.6bn in 2020) and farmers. External benchmark, not counted: the Institut Montaigne (2024 legislative elections) costs raising the minimum contributory pension to a SMIC of €1,600 net for full careers at €13.9bn by 2027 (+€286 per month applied to €7.7bn of minimum contributory pension spending, general scheme). Positions costed on this parameter use its central value: the upper bound overstates the cost.

How to read these amounts. These are static costs and revenues, with no feedback effect, over a full year: nothing on growth, employment or the revenue that economic activity would gain or lose. A higher net cost does not on its own make a worse policy, nor net savings a better one: each programme rests on an economic model (demand-led stimulus, lower compulsory levies, consolidation of the public accounts…) that the cost schedule does not settle. GDP itself measures a volume of activity, not well-being or the usefulness of what is produced. Economic models and feedback effects.

This lever in the method · Costing for Fabien Roussel

  1. pcf.fr, « Université d'été 2026 - Discours de Fabien Roussel » (Toulouse), 26 August 2026. Words of Fabien Roussel. Position taken from public statements, not from a written programme. Read the source (pcf.fr, « Université d'été 2026 - Discours de Fabien Roussel » (Toulouse)).

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