Basic pension scheme for the liberal professions converted to a points system

The chapter of the Act of 21 August 2003 on the liberal professions reforms the basic old-age insurance scheme run by the national pension fund for the liberal professions (CNAVPL). Article 96 sets its entry into force on 1 January 2004 and the conversion, on that date, of acquired and paid-out rights into points: one sixtieth of the allowance for elderly employees equals 100 points. The professional sections transfer to the national fund part of their reserves equal to three to nine months of benefits, the amount above three months funding a negative call rate on 2004 and, where applicable, 2005 contributions.