Need an Actuarial Input

I am 64.5 years old. I have a pension in France which has a facevalue of €50,000.

Under the rules of this plan I can only withdraw monthly.

The management company has assessed that I am entitled to €200 per month.

This seems exceptionally low and I am hopeing that someone can help with an opinion on this.

Many thanks,

Michael

General advice will not help you. You will need advice from someone who has expert knowledge of the French pension system. (May be difficult to source in Ireland). You will also need a copy of the pension Policy and the relevant conditions.

Hi Michael,

I'm not an actuary, but I know about Irish annuity rates, for comparison. In relation to the quoted pension, can you tell me: -

• Is there a provision for annual increases on the pension? If so, at what rate?
• Is there a provision for a spouse's pension after your death? If so, what percentage would your spouse receive and what's your spouse's date of birth?
• Is there a guaranteed minimum payment period on the quoted pension, should you die shortly after it commences?

Armed with this information, I would be able to provide a comparison Irish annuity rate. But as 44brendan has said, this might be of academic interest only unless the French scheme would permit you to purchase your annuity here in Ireland.

Regards,

Liam

It works out as a factor of 20.8 (50000/2400) which is about the same as in Ireland depending on the exact terms of payment, guarantee period, spouse entitlement, annual increase if any.
Certainly not exceptionally low.

Use the below link to get a rough idea of what a 2400 pension per annum would cost based on the same conditions as your French pension.

https://www.pensionplanetinteractive.ie/ppi/public/loadPensionChoice.action

That sounds about right. Should be very little difference between French and Irish annuity rates as they would be backed by similar bond portfolios. Tax will be the major difference.