Higher Pensions for Retirees in Monaco

5,000 people have signed a document which demands care for future retirees and the repatriation of current retirees. A small white card with a red C has been circulating through many Monegasque companies. It reads: “I hereby claim the care of future retirees and repatriation of current retirees of Monaco to The Social Services Compensation Fund (SSCF)”.

The issue has been raised by the Union of Monaco and the Union of Retirees of Monaco: “Employees residing outside Monaco who ask to have their pensions liquidated are automatically switched to the social security system of their country of residence”.

“In all, 25,217 retirees would no longer be under the SSCF,” states the Union of Monaco Trade Unions.

The main concern is that different countries offer different benefits. For example: in Monaco, the standard reimbursement for getting eye-glasses re-framed is 50 euros. In France, the same coverage is 2.84 euros.

“It is necessary that all employees can gain from good social benefits,” says Jean-Pierre Messy, secretary of the Pastry Chefs Union. “It enables them to increase their purchasing power”.

This debate has stirred the Union of Retirees of Monaco for “a decade”, – recalls Alex Falce, President of the Union of Retirees of Monaco. Topics like the “lower reimbursements in France” and the increase in property prices in the neighbouring towns of the Principality will be discussed during a new demonstration that could take place on the 6th December.

There is also a question of “recognition,” – says Christophe Glasser, Secretary General of the Union of Monaco Trade Unions. According to him, the implementation of this system would enable the emergence of a “virtuous trend” in Monaco. “Supporting retirees under the SSCF, will further boost the health system. The inhabitants of surrounding neighbourhoods will come here for their care”. This could lead them to come to the Principality and consume.

According to the union, 11,000 of 25,217 retirees concerned live around Monaco. Financially, repatriating all pensioners concerned would be “highly realistic”, suggests Olivier Cardot, deputy general secretary of the USM. It would cost 208 694 752 euros. On paper, it seems like a lot. But it’s “a drop in the bucket” compared to Monaco’s GDP in 2014 and 532 billion euros. It is not the first time the USM raises this issue, it was discussed during a demonstration in mid-June. A thousand demonstrators took to the streets. Except that after the demonstration, he claims that ”nothing happened.” So, the Union of Monaco Trade Unions plans to call another demonstration on the 6th of December. “This is the only option left with the government,”- says Christophe Glasser. There will be discussions about wages, working conditions and pensions”.