If you have at least five years of service at the end of your contract, you have the option to take a retirement pension deferred to the applicable retirement age, at the latest:
- 65 years of age if you joined the Fund on or before 31 December 2011
- 67 years of age if you joined the Fund on or after 1 January 2012
A deferred retirement pension is payable when you reach the applicable retirement age, or before if you elect to take an anticipated retirement pension.
Basis for calculation
Benefits are based on the higher of the following amounts at the end of your membership:
- If you joined the Fund on or before 31 December 2011:
- your final reference salary corresponding to the full-time basis
- 10/7 of the reference salary corresponding to 99.35% of the midpoint of grade 1 of the CERN salary scale
- If you joined the Fund on or after 1 January 2012:
- the average of your last 36 months' reference salaries
- 10/7 of the reference salary corresponding to 99.35% of the midpoint of grade 1 of the CERN salary scale
Benefits are reduced pro rata for partial contributions to the Fund (e.g. contributions to other schemes, partial contributions due to part-time work, periods of unpaid special leave, etc.).
Amount
The amount of the deferred retirement pension is calculated as follows:
- 2% of your final reference salary per year of membership (maximum: 70% for 35 years) if you joined the Fund on or before 31 December 2011
- 1.85% of the average of your last 36 months' reference salaries per year of membership (maximum: 70% for 37 years and 10 months) if you joined the Fund on or after 1 January 2012
The deferred retirement pension cannot be higher than your final basic salary.