If you have at least five years of service and leave the Fund, you have the option to take a retirement pension if you have reached the applicable retirement age:
- 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
until the last day of the month of your death.
Basis for calculation
Benefits are based on the higher of the following amounts at the end of your contract:
- 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 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 retirement pension cannot be higher than your final basic salary.