Social benefits

Social benefits for retirees

Granted in the form of four benefits:

  • Supplementary benefit to the minimum retirement pension
  • Single benefit paid on the death of the retiree
  • Exceptional old age benefit
  • Benefit for the retiree's spouse

Just one of each of these benefits is granted based on the highest pension:

  • in the case where each of the spouses has a pension paid by the C.A.R.,
    or
  • when a single person benefits from two pensions (direct and reversionary).

 

Supplementary benefit to the minimum retirement pension

Eligibility conditions

Receiving a retirement pension paid by the C.A.R.:

  • earned solely through periods of salaried employment in Monaco or equivalent periods relating to this employment that have covered at least 37 and a half years or 450 months or more;
  • paid on the basis of less than 775 points.

Amount

The benefit amount is equal to the point value multiplied by the difference between the number of paid points and 775 points.

Upper income limit

The maximum supplementary benefit is granted when the annual income during the reference period, increased by twelve monthly benefit payments, was less than the corresponding value of:

  • 990 points for a single person
  • 1440 points for couples

If the income, supplemented by the minimum retirement pension monthly benefit payment exceeds this limit, these monthly payments will be adjusted as a result.

Sending the application

The questionnaire is automatically sent to potential beneficiaries.

The benefit application (or its renewal) must be submitted before the 31 October of each year or the entitlement lapses.

Payment

The supplementary benefit to the minimum retirement pension is paid at the same frequency as the payment of arrears for the C.A.R. pension.

 

Death benefit

Provided in the event of a retiree's death, this is granted:

  • to the surviving spouse who is not divorced or legally separated,
    or
  • failing this, to the children.

Provided that these beneficiaries can claim a reversionary or orphans' pension.

To be admissible, applications for the Death Benefit must be submitted within 12 months of the date of death. The benefit is payable from the day of death.

Amount

The benefit amount corresponds to a quarter of the annual pension received by the deceased retiree, without being greater than one and a half times the value of the basic salary.

 

Exceptional benefit

Eligibility conditions

Receiving a retirement pension paid by the C.A.R.:

  • earned solely through periods of salaried employment in the Principality,
    and
  • paid on the basis of at least 35 points.

Residing in Monaco or the Alpes-Maritimes region.

Amount

The maximum amount of the benefit is set annually by Ministerial Decree and is granted for a retirement pension of 360 points. It is proportional to the number of points for pensions of between 35 and 359 points.

Upper income limit

Total income over the 12 reference months cannot exceed the upper limit set by Ministerial Decree.

The income to be taken into consideration is defined as the total income of the single person or couple.

Sending the application

The questionnaire is automatically sent to potential beneficiaries.

To be admissible, the benefit application must be submitted before the 31 October of each year or the entitlement lapses.

Granting/Payment

It is granted to the retiree once a year. It is paid in the final quarter of the relevant calendar year.

 

Spouse benefit

Eligibility conditions

Receiving a retirement pension from the C.A.R. paid based on at least 60 points and normally lives in the household with their spouse.

Amount

This varies proportionally:

  • with the number of calendar months during the financial year concerned where the granting conditions have been met,
  • with the number of retirement points that the beneficiary has, up to 360.

Its maximum amount is set by Ministerial Decree.

Upper income limit

Total income over the 12 reference months (benefit included) cannot exceed 1440 times the value of the retirement point.

The income to be taken into consideration is defined as the couple's total income.

Sending the application

The questionnaire is automatically sent to potential beneficiaries.

To be admissible, the benefit application must be submitted before the 31 October of each year or the entitlement lapses.

Granting/Payment

It is granted to the retiree's spouse once a year. It is paid in the final quarter of the relevant calendar year.