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This article, which presents one of the simulations of migrating the general scheme to notional accounts performed by CNAV in 2009, was used as data for the 7th report of France’s Pensions Advisory Council (COR). Based on the architecture of the Prisme forecasting model and the 2007 economic scenario for 2050, all the pension entitlements accrued by employees under the general scheme were calculated as notional accounts. The assumptions relating to the current non-contributory elements show that maintaining them is not incompatible with the new system for calculating retirement pensions, according to the conclusions of COR’s 7th report.
We present two versions of the results, which are both intended to be purely illustrative of the mechanisms at work in the event of a migration: in the first, the retirement age remains constant for both systems, whereas in the second, the retirement dates are altered to enable insurees to qualify for the same pension in notional accounts as the pension they would have received under the current system. The differences found between pensions paid in annuities and in notional accounts illustrate the consequences of changing system, both at individual and macroeconomic level. A microsimulation allows for a detailed breakdown of the effects specific to certain sub-groups of general-scheme insurees, and enhances our understanding of the specific effects of the legislation currently in force.

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