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How to calculate the retirement pension for an independent manager ?
New coronavirus measures in Tunisia !
4 October 2020
2021 finance bill draft
1 November 2020How to calculate the retirement pension for an independent manager ?
How to calculate your retirement pension, what are the conditions, and what documents need to be provided ?
Conditions required to qualify for a retirement pension :
Any self-employed worker can benefit from the old-age pension if the following conditions are met :
- Be 65 years old.
- Have paid at least 40 quarters of contributions.
- Have paid all contributions since affiliation and have no outstanding contributions.
Required documents :
- A photocopy of the national ID card.
- A birth certificate extract issued within the last 3 months.
- A pension application form (CNSS form) filled out by the self-employed worker.
- Proof of employment or registration with other Tunisian or foreign social security funds (such as payslips, payment receipts for contributions, employment contract).
Amount of the retirement pension :
The pension amount is equal to 30% of the reference income for the first 40 quarters of contributions, increased by 0.5% for each additional quarter, without exceeding 80% of the reference income.
According to the CNSS calculation, the "annual reference income is equal to the weighted average of the multiplier coefficients corresponding to the categories the insured has subscribed to during their contribution years, related to the minimum wage in effect at the time of pension entitlement."
However, the self-employed worker can opt for a retirement pension starting at age 60. The pension amount will be reduced by 0.5% for each quarter remaining until the age of 65.
Example :
Suppose a company manager requests retirement pension benefits, and during his contribution period, he contributed for 10 years in category 3, then 15 years in category 5, and then 10 years in category 7.
If the minimum wage (SMIG) at the time of his retirement is 400 DT, the amount of his pension is determined as follows :
Multiplicative coefficients for each category : Referring to the self-employed contributions table, we find the multiplicative coefficient for each contribution category:
-Category 3 : Coefficient: 2, Contribution period: 10 years
-Category 5 : Coefficient: 4, Contribution period: 15 years
-Category 7 : Coefficient: 9, Contribution period: 10 years
Calculation of the weighted average of the multiplicative coefficients :
((2∗10)+(4∗15)+(9∗10))/35=5.428((2 * 10) + (4 * 15) + (9 * 10)) / 35 = 5.428
Calculation of the contribution period :
10+15+10=3510 + 15 + 10 = 35 (the maximum contribution period)
Pension rate :
30% (for the first 10 years) + (0.5% * 4 * 25 years) = 80%
Gross retirement pension amount :
SMIG∗rate∗coefficient=400∗80SMIG * rate * coefficient = 400 * 80% * 5.428 = 1,736.960 DT
Amount of tax withholding on the retirement pension :
1,736.960DT∗0.25=434.240DT1,736.960 DT * 0.25 = 434.240 DT
Net retirement pension amount :
1,736.960−434.240=1,302.720DT1,736.960 - 434.240 = 1,302.720 DT
Legislative and regulatory references : Decree No. 95-1166 of July 3, 1995, as amended by Decree No. 2002-3018 of November 19, 2002.
