The suspension of the pension reform until 2028 significantly changes the trajectories for early retirement. For those born between 1964 and 1970, the age and contribution duration thresholds revert to levels prior to the initial schedule, reopening departure windows that many considered closed. Before embarking on this path, it is essential to precisely measure what one gains and loses financially, socially, and regulatory-wise.
Suspension of the 2023 reform and recalculation of early retirement thresholds
The Social Security financing law for 2026 freezes the gradual increase of the legal retirement age and maintains the required contribution duration at 170 quarters until January 2028. For an insured person born in 1964, the legal age drops back to 62 years and 9 months instead of 63 years with 171 quarters according to the initial schedule.
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This shift of a few months changes the game for long career and hardship schemes. Self-employed workers are explicitly affected: the early retirement rules for long careers are adjusted starting September 1, 2026, for those born between 1964 and 1970.
We recommend not reasoning based on the 2023 schedule. As long as the suspension is in effect, the applicable conditions for quarters and age are those prior to the reform, which can advance a departure by several months. Before making any decision, one should obtain an up-to-date career statement and verify the compliance of each insured period.
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To accurately assess the advantages and disadvantages of early retirement in this transitional context, careful reading of one’s individual situation statement remains the mandatory starting point.
Actual financial impact of early retirement on the pension
Early retirement without meeting the conditions of a derogatory scheme results in a permanent reduction in the basic pension. Each missing quarter compared to the required duration reduces the amount paid, and this reduction applies for life, with no subsequent catch-up.
The complementary schemes (Agirc-Arrco for the private sector) apply their own coefficients for temporary or permanent reductions based on the age of liquidation. The combination of both reductions can represent a significant loss of income over the total duration of retirement.
What standard simulations do not show
Online simulators calculate the gross pension, rarely the net pension after social contributions. However, an early retiree receiving a lower pension may fall below certain CSG exemption thresholds, which partially mitigates the gross gap. Conversely, an early retirement with capped employment-retirement accumulation may generate an overall tax burden higher than anticipated.
We observe that most insured individuals also underestimate the effect of inflation on an early liquidated pension. A pension set lower undergoes the same annual revaluations in percentage, but on a reduced base: the gap in euros with a full-rate departure widens year after year.
Long careers and hardship: schemes that allow departure without reduction
Early retirement for long careers remains the most utilized scheme. The opening conditions rely on two cumulative criteria:
- Having started working before the age of 16, 18, 20, or 21 depending on the targeted retirement age, with a minimum number of quarters contributed before this age threshold.
- Justifying the total required contribution duration, composed almost exclusively of quarters deemed contributed (assimilated periods, such as unemployment, are capped).
- For those born between 1964 and 1970, the thresholds are recalculated as part of the suspension, which may advance the departure by a few months compared to the post-reform schedule.
The hardship scheme operates through the professional prevention account (C2P). The points accumulated allow for financing additional quarters or retraining. Early retirement for permanent incapacity (with a rate of at least 50%) follows a different logic: it does not require a minimum contribution duration.
Recognized periods and excluded periods
Not all periods count the same way. Military service, sick leave, or periods of compensated unemployment are assimilated quarters, capped in the long career calculation. Only quarters directly contributed through professional activity are counted without limit.
This technical distinction is the primary source of error in early retirement files. A career statement that shows the correct total number of quarters may mask a deficit of contributed quarters, sufficient to block access to the scheme.
Early retirement and health: an underestimated trade-off
A study published in PubMed (reference 2025) examined the link between retirement age and health status. The results suggest that the health benefit of early retirement strongly depends on the type of activity performed. For jobs with high physical hardship, an earlier departure is associated with better preservation of health status. For sedentary or intellectually stimulating jobs, the correlation reverses.
A report from the High Commissioner for Planning recommends promoting continued employment after 60, reflecting a tension between public policy and individual interest. Progressive retirement, access to which has been modified by the 2023 reform, allows for reducing one’s activity without fully liquidating one’s rights. The number of requests for progressive retirement has significantly increased since the implementation of this scheme.
Social isolation and loss of bearings
The psychological risk is documented: a sudden break from the professional framework, especially before 60, can generate feelings of uselessness or isolation. Early retirees who maintain a structured activity (volunteering, entrepreneurial projects, regular physical activity) show better psychological adjustment than those who cease all activity overnight.
- Assess whether early retirement is accompanied by a concrete activity project, even if unpaid.
- Anticipate the loss of the professional social network, especially for executives whose social life is centered around the company.
- Check the conditions for combining employment and retirement if a partial resumption of activity is considered after liquidation.
Early retirement is not just a simple calculation of quarters. The window opened by the suspension of the reform until 2028 creates a real opportunity for certain generations, provided that each line of the career statement is verified and the financial impact on the total duration of pension payments is measured. The most suitable scheme depends as much on the professional background as on the post-departure life project.