French Social Security pensions are largely supplemented by compulsory national pay-as-you-go schemes (repartition), with a split between the managerial/professional group (executives) and the remaining employees (non executives).

The main Social Security system covers most private sector employees. The remainder are covered by special schemes although many of these have been integrated into the Social Security pension scheme in order to standardise the French retirement system.

Both men and women can get a full retirement pension at any time between ages 60 and 65 once they have accumulated an adequate number of contributions.

The basic Social Security system is supplemented by mandatory pay-as-you-go pension schemes organised on an industry-wide, multi-employer basis. These schemes differentiate blue-collar and clerical workers from professional/managerial personnel.

The market for company plans is still small, representing about 5% of the retirement market in terms of contributions.

Employee and company contributions to mandatory pay-as-you-go arrangements are fully tax-deductible.

Pensions in the payment process are normally taxed in the same way as other earned income. There are no specific tax incentives for lump sum benefits.