How to Earn a Salary in Addition to your Pension
According to the French social institute, men earn on average more money on their pension than women. However, this system is quite difficult to understand.
As you are a newly retired, making both ends meet is the right solution to earn money in addition to your pension. In France, 15 million people have a pension and 500,000 of them draw several salaries concurrently given a report of the French social institute. It is not illegal at all!
As English retired (ideally between 60 and 70 years of age), you can receive your pension and a salary from a French job at the same time. This new fashionable activity has known a great development since 2004. It is not an activity only dedicated to men, but also to women whose numbers are skyrocketing. We all know the problems of small pensions, and the have-nots resort more and more to this system. Indeed, active people have a better level of life than inactive people, and their pension is up to 30% higher than those of inactive people. Moreover, pensioners who opt for drawing several salaries generally have a job before their retirement.
That would be a good solution for you, especially if you took out a French mortgage to buy a French property. Then, you don’t even need to work during your entire pension until you are unable to work anymore for health reasons. It depends on the duration you would like to work: 6 months to 2 years and no more! That is exactly what most of French do. In five years, their number has trebled (from 119,500 in 2005 to 310,000 to 2010).
Nevertheless, you need to know that reasons for working are different according to any pensioner in question. Some find ‘fun’ to be paid for a part-time job with wages practically equivalent to those they received when they were working before being retired. Others enjoy their particular status: e.g. sole trader.
On the one hand, proof is your finances are better on the long term for your pensions, even if they remain slight. Moreover a pensioner still assesses taxes when he receives pensions in the meantime, but these ones are not affected at all because the pensioner has automatically cleared his situation.
On the other hand, you should take care of drawing of several salaries at the same time on the short term. Pay attention to details and try not to bring on cash flow problems, particularly in a period when banks are very careful on your credits. Of course, this is a new activity and, unfortunately for the time being, this is still rare.
However, already half a million pensioners in France have chosen this system and a large part of them are using the new company scheme Auto entrepreneur. Why not giving it a try?