In summary…
Yes. A self-employed pharmacist who receives their full basic pension and has claimed all their mandatory pensions combines their pension from the Pharmacists' Old-Age Insurance Fund (CAVP) with their income no income limit. Without these conditions, his net business income is limited to €48,060 per year and contributions do not confer any rights. In the typical case (pension of €33,400, €30,000 of earned income, single), employment leaves approximately €11,500 once paid €13,612 CAVP contributions and €4,916 of tax, before contributions owed to Urssaf (the organization that collects social security contributions). The supplementary pension scheme is a significant burden: the flat-rate allocation and the capitalization class 3 are not income-dependent, and new entitlements remain low: approximately €341 to €505 in additional pension per year of accumulation. For pensions taking effect from January 1, 2027, before age 67, the 2026 Social Security financing law provides for a pension reduction: with the expected threshold of €7,000, the gain in the typical case would fall to approximately €3,100.
1. What status, what fund: permanent employee, substitute, or deputy
The pension scheme applicable to resumed activity depends on status, not profession. The CAVP (French Pharmacists' Association) states that "all self-employed pharmacists are required to be affiliated" and that the criterion is the activity itself and registration with the Order, not the legal structure of practice. A self-employed activity, even a secondary one, falls under this general rule.
| Reduced activity status | Retirement plan for resumed activity | What the source says |
|---|---|---|
| Pharmacy owner, practicing partner, non-salaried locum | CAVP: Combining employment and retirement benefits within the framework of self-employment | CAVP notice "Combining employment and retirement in 2026": full or capped combination (section 2) |
| Assistant or salaried replacement | General pension scheme and supplementary pension fund for employees, Agirc-Arrco | The CAVP membership page does not cover employees. Service-public.gouv.fr describes, for employees in the general scheme, a new basic pension capped at €2,403 per year, Agirc-Arrco supplementary pension rights, and a waiting period of at least 6 months to return to work with the last employer. |
| Pharmacist/Medical Biologist | CAVP, with an additional supplementary old-age benefits scheme | This scheme does not currently offer any second pension benefits, according to the CAVP information sheet. |
In both cases, the starting condition is the same: to have liquidated all basic and supplementary pensions, French and foreign, and to have obtained the basic pension at the full rate, either between 62 and 67 years with the number of quarters required for his generation, or at 67 years or older (service-public.gouv.fr). The rest of the article deals with the case of the self-employed pharmacist, and a salaried assistant must check his situation with the Carsat (the regional pension insurance fund) and the Agirc-Arrco.
2. What the CAVP allows: full or capped accumulation
From the legal retirement age, a self-employed pharmacist receives their CAVP pensions without ceasing their activity, unless they are declared unfit for work. The fund distinguishes between two situations.
| Total cumulative | Maximum cumulative | |
|---|---|---|
| Terms | To receive your basic pension at the full rate (required insurance period or full pension age) and having claimed all mandatory pensions, both French and foreign. The transition to full pension accumulation is automatic upon reaching the legal retirement age and claiming all pensions. | The conditions for full accumulation are not met, or retirement is before the legal age (long career, unfitness, disability). |
| Authorized income | No limits | Net income from self-employment is limited to €48,060 per year (the annual Social Security ceiling, or PASS, for 2026); beyond this limit, pensions are reduced or suspended depending on the amount exceeded. The ceiling is reduced proportionally if the activity covers only part of the year. |
| New pension rights | Yes: a second pension (except for the biologists' scheme) | None: contributions are due without acquiring anything. |
A pharmacist can defer claiming their supplementary pensions until age 67, without any age-related reduction, and automatically benefit from the full accumulation of pensions. They must claim them at age 67 to retain this entitlement. The rules of the CAVP (Pharmacist Pension Fund) are based on the 2023 amending Social Security financing law and the decree of December 19, 2023, which modified its statutes.
3. The cost of the resumed activity, and the revenue it generates in rights.
Contributions are due until the cessation of self-employment activity, in all cases of combined benefits. The CAVP lists these in its information leaflet: disability and death benefits, basic old-age pension, supplementary pay-as-you-go pension, and supplementary funded pension. in class 3. Since 2025, the basis for the basic scheme is income without deduction of social security contributions, reduced by a deduction of 26 %: for €30,000 of income, it is €22,200.
| Diet | Cumulative contribution, 2026 | New rights |
|---|---|---|
| Base | 8.73 % of the base up to €48,060, plus 1.87 % up to €240,300 | Yes, with full accrual: up to 557 points per year on the first bracket and 25 on the second, prorated to the contribution, at €0.6599 per point. No bonus; second pension capped at €2,403 per year. |
| Supplementary by distribution | The flat rate of €7,657 is identical across all classes, with the 105.4 % call charge already included in 2026, totaling €7,657. The 5.4 % surcharge included in this flat rate (approximately €392) does not generate any entitlement. | Yes: one annuity per year of contributions (€328.80 in 2026), "reduced by a coefficient of 25 % in 2026"« |
| Supplementary capitalization | Class 3 by default: €2,906 (2 × the reference contribution of €1,453) | Yes: a new capital sum, consisting of class 3 contributions and their interest, converted into an annuity based on age; reversion to the spouse is possible. |
| Disability-Death | Package price of €696 | No retirement pension |
None of the schemes offer child-related bonuses or buybacks on the second pension. The number of pensions is limited to two per CAVP scheme. Claiming a second basic pension, regardless of the scheme, prevents the accrual of new rights: the fund advises claiming all second pensions simultaneously and waiting until all employment has ceased (Decree of December 19, 2023: "no rights may be accrued under this scheme after the claiming of a second pension").
The reduction of class 3. Members in class 3 can request a contribution reduction based on their 2024 or 2025 self-employment income: 75 % contributions below €16,020, 50 % contributions from €16,020 to €32,039, and 25 % contributions from €32,040 to €48,059. The request must be made before the income tax return deadline (June 2026, according to the pension fund's information sheet) or within three months of the due date, otherwise it will be forfeited. The reduction prevents the purchase of additional contributions and lowers pension entitlements, as only the portion actually paid into the system qualifies for benefits. The information sheet does not specify which portion it applies to (allocation, capitalization, or both) nor whether it applies to retirees receiving a combined pension and benefits: the standard case does not include it, and a calculation is provided as a hypothetical example below.
The order of magnitude of the fees is modest. In a typical case, a year of accumulation at €30,000 adds approximately €171 to the basic pension (259.6 points × €0.6599), between €82 and €247 to the supplementary pay-as-you-go pension (the information sheet does not specify whether "reduced by a coefficient of 25 %" means a one-quarter reduction or a coefficient of 25 % applied to the annuity of €328.80), and approximately €87 to the capital annuity (assuming a 3 % annuity of the capital, as in our article on the pensioner's retirement). That is €341 to €505 per year For €12,524 in contributions that entitle you to benefits, excluding the 5.4 % surcharge and excluding disability-death benefits: you need at least 25 years pension to recover one year of contributions. The second basic pension reaches its ceiling of €2,403 after 14 years of accumulating this income.
4. What changes for pensions taking effect from 2027 onwards
Article 102 of Law No. 2025-1403 of December 30, 2025, on financing Social Security for 2026, eliminates the distinction between full and capped combined pension benefits: only age matters. These rules apply to pensions awarded from [date missing]. January 1, 2027 ; A pharmacist whose pension takes effect before this date remains subject to the current rules (Retirement Insurance). The CAVP adds that all basic and supplementary pensions must have been claimed without reduction, otherwise they will be suspended.
| Age at liquidation | Effect on pension |
|---|---|
| Before the age of eligibility for benefits (long career) | The pension is reduced by all income received, from the first euro, including certain replacement income such as daily allowances. |
| Between the legal age and 67 years old | Pension contributions can be accumulated without reduction up to a threshold set by decree, expected to be €7,000 gross per year; beyond this threshold, the pension is reduced by 50% of the excess amount, and further contributions do not accrue any new entitlements. Example from the French National Retirement Insurance (Assurance retraite): €10,000 of income, €7,000 threshold, €1,500 reduction. |
| From age 67 | All income and pensions can be freely combined; periods of employment open up new entitlements without limit, according to the CAVP. |
The decree setting the threshold had not been published by September 24, 2026, the date the French National Retirement Insurance Fund (Assurance retraite) website was updated. The website expects the decree to be published before the end of 2026 and presents the €7,000 threshold as a hypothetical figure. The CAVP (French National Old-Age Insurance Fund) website also indicates that the threshold "will be set by decree" without specifying the amount. Therefore, the €7,000 threshold remains a calculation hypothesis.
5. Calculation based on €30,000 of reduced activity
Typical case
Situation. A 67-year-old single pharmacist, owner of a pharmacy, has claimed his pension at the full rate. His gross annual pension is €33,400: this is the result of the case study in our article on the retirement of a pharmacy owner (35 years with €110,000 in profit, 2026 pension fund values, calculation assumptions). He sells the majority of his business, retains a few days a week in private practice, and generates €30,000 in income before social security contributions.
Issue. He wonders what he actually has left of those €30,000, knowing that his pension alone barely places him in the 30 % bracket and that the CAVP is demanding the flat rate for the supplementary scheme, which does not depend on his income.
Strategy. He remains in full accumulation, without income limit, and performs the complete calculation. Base for the basic scheme: €30,000 × (1 − 26 %) = €22,200. 2026 contributions: base €2,353 (€1,938 + €415), allocation €7,657 (including the €105.4 % contribution), class 3 capitalization €2,906, disability-death €696, i.e. €13,612, 45.4 % of income. Mandatory old-age and disability-death insurance contributions are deductible from profit without limitation (Article 154 bis of the French General Tax Code; BOFiP BOI-BNC-BASE-40-60-50-20): we deduct them all, including the Class 3 capitalization contribution, which is an assumption. Taxable profit falls to €16,388. Taxable pension: €33,400 − 10 % allowance (€3,340) = €30,060. Total taxable income: €46,448.
Result. The tax goes from €2,122 à €7,038 €4,916 more, because every euro added is taxed at 30% (the bracket from €29,579 to €84,577). There remains €11,471 on €30,000 (€30,000 - €13,612 - €4,916), excluding social security contributions. The social security and tax deductions amount to 61.8% of the activity. With €4,710 paid into a retirement savings plan (the 2026 deduction threshold for a self-employed worker), the tax decreases by €1,413 (€4,710 - €30) and falls to €5,625.
| Position (in euros per year) | Boarding only | Accumulation, current rules or liquidation at 67 years and over | Assumption: pension claimed in 2027 before age 67, threshold of €7,000 |
|---|---|---|---|
| Gross pension paid | 33,400 | 33,400 | 21,900 |
| Earned income | 0 | 30,000 | 30,000 |
| CAVP contributions (basic, supplementary, disability-death) | 0 | - 13,612 | - 13,612 |
| Taxable income (pension after deduction of 10 %, plus net profit after deducted contributions) | 30,060 | 46,448 | 36,098 |
| Income tax | 2,122 | 7,038 | 3,933 |
| Available after CAVP contributions and tax | 31,278 | 42,749 | 34,354 |
| Profit related to the activity | 11,471 | 3,076 |
Hypotheses. Single taxpayer, one share, with no other income. Income tax scale published in the Official Bulletin of Public Finances (11 % from €11,600 to €29,579, 30 % from €29,579 to €84,577). 10 % allowance on the pension (minimum €454, maximum €4,439 per household; here it is €3,340). Contributions are those of class 3 without reduction, with the allocation flat rate of 105.4 %; the fund announces compensation for this increase by a decrease in the generalized social contribution, not included here. The disability-death allowance of €696 is included because the fund's information sheet classifies it among the cumulative contributions due. Social security contributions (including the generalized social contribution) are not included: their 2026 rates have not been verified. With an income of €30,000, the €48,060 cap on combined benefits is not reached: the result would be the same, but without any new entitlements. The right-hand column applies the reduction of half the €7,000 excess to the same pension, without any reduction for retirement before age 67, so it represents an upper limit: the pension drops from €33,400 to €21,900. In this scenario, The €11,500 pension lost absorbs approximately 73% of the gain. : there is €3,076 left instead of €11,471.
Sensitivity to class 3 reduction. With an income of €30,000 (and a taxable base of €22,200), the typical case falls within the €16,020 to €32,039 bracket, resulting in a 50% reduction. If this reduction applied to the entire supplementary contribution (€7,657 + €2,906), a scenario the fund does not confirm, the contribution would decrease by €5,282 and the benefit would increase from €11,471 to €15,169, at the cost of reduced supplementary benefits. This should be verified with the fund before relying on it.
6. Steps to resume business activity
- Contact the CAVP benefits department before taking any action. (cavp@cavp.fr or 01 42 66 90 37) or make an appointment online; the application for combination can also be made on info-retraite.fr.
- Verify that all plans are liquidated, In France and abroad: a single overlooked scheme prevents full accumulation of benefits. From 2027, a reduced pension settlement suspends pension payments.
- Apply for your second pensions at the same time upon cessation of activity, two months before the effective date, with the specific form that the fund sends.
- Declare pensions in the "pensions, salaries and annuities" section of the income tax return. For the sale of a pharmacy, the 24-month capital gains exemption period begins from the date of retirement, according to the CAVP: to be confirmed with the accountant.
- Transmit an estimated income online to limit adjustments: for 2026, the deadline was June 30, 2026, and the basic scheme contribution is regularized afterwards anyway (July 2027 for 2026).
- Invest net income : the individual retirement savings plan is deducted here at a rate of 30 %; the ceiling is detailed on our page PER deduction limit.
Frequently asked questions
Can a pharmacist combine the CAVP with an unlimited income?
Yes, you can combine all your pensions: receiving your full basic pension and having claimed all your mandatory pensions, both French and foreign. Otherwise, net income from self-employment is capped at €48,060 per year in 2026, and pensions exceeding this limit are reduced or suspended depending on how much you are overpaying.
Do contributions paid in accumulation increase retirement benefits?
A little, and only when fully combined. The basic pension scheme provides a second pension capped at €2,403 per year; pay-as-you-go and funded schemes also accrue pension rights. In a typical case, an annual income of €30,000 adds approximately €341 to €505 to the pension per year. When contributions are capped, they do not accrue any additional pension rights.
What will the 2027 pension accumulation reform change?
For pensions taking effect from January 1, 2027: a reduction from the first euro before the age of eligibility, a 50% reduction for exceeding a threshold (expected at €7,000) between the legal retirement age and age 67, without any new entitlement, and unrestricted accumulation with new entitlements from age 67. The decree setting the threshold had not been published by September 24, 2026.
Does a salaried assistant or replacement fall under the jurisdiction of the CAVP?
The CAVP membership page is for self-employed pharmacists and does not cover salaried employees. For salaried employees, service-public.gouv.fr describes the combination of the general pension scheme: a new basic pension capped at €2,403 per year, Agirc-Arrco supplementary pension rights, and a minimum of 6 months' service with the last employer. Check your specific situation with the Carsat (Regional Pension and Health Insurance Fund).
Does the CAVP reduce the contributions of a retiree who works little?
The CAVP offers a reduction of 75%, 50%, or 25% in class 3, depending on income (less than €16,020, from €16,020 to €32,039, or from €32,040 to €48,059), upon request, before the tax return deadline or within three months of the tax due date. This reduction lowers the tax liability. The information leaflet does not specify which portion of the reduction applies to the pension or whether it applies to retirees receiving additional benefits: request a calculation from the pension fund.
Our position
We start with your career record, your retirement date, and your projected earnings, not an average. We calculate your remaining income after contributions and taxes based on your chosen retirement date, then decide whether to invest your net income in a retirement savings plan or elsewhere. We do not draft any documents or provide legal or accounting advice: eligibility for combined benefits and the declaration of your income are handled by the CAVP (French Pension Fund for the Elderly) and your accountant. We receive commissions on contracts taken out through our firm.
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Alexis Sagnier, financial and real estate investment advisor, insurance broker, AMF certified. ORIAS 13003497. Updated on 28/10/2026.
Official sources consulted
- CAVP, "Combining employment and retirement benefits in the context of self-employment" (full and capped combination, ceiling of €48,060, reform of January 1, 2027): cavp.fr
- CAVP, notice "Combining employment and retirement in 2026" (contributions due, second pension, ceiling of €2,403, coefficient of 25 % of the pay-as-you-go scheme, procedures): cavp.fr
- CAVP, "Contributions of the self-employed pharmacist in 2026" (basic scheme, allocation of €7,657, call of 105.4 % already included, capitalization, class 3 and reduction, reduced base of 26 %): cavp.fr
- CAVP, "Reference Amounts 2026" sheet (July 2026: point value €0.6599, annuity €328.80, disability-death €696): cavp.fr
- CAVP, «LFSS 2026, its main impacts for pharmacists» (article 102, pensions settled from 1 January 2027): cavp.fr
- CAVP, "Your mandatory membership in CAVP": cavp.fr
- CAVP, decree of December 19, 2023 amending the statutes (second pension, class 3 in combination): cavp.fr
- National Old-Age Insurance Fund for the Liberal Professions, "Understanding your retirement" (557 and 25 points pro rata to the contribution, point value at €0.6599 in 2026): cnavpl.fr
- Service-public.gouv.fr, «Combining employment and retirement» (conditions for full combination, employees of the general scheme, new pension limited to €2,403 per year): service-public.gouv.fr
- Service-public.gouv.fr, «Combining employment and retirement: new rules from 2027» (law no. 2025-1403, article 102; threshold of €7,000 expected, decree not published): service-public.gouv.fr
- Retirement Insurance, "Combining employment and retirement" (updated on September 24, 2026: hypothetical threshold of €7,000, decree expected before the end of 2026): lassuranceretraite.fr
- Service-public.gouv.fr, 10% tax reduction on pensions (minimum €454, maximum €4,439 per household): service-public.gouv.fr
- BOFiP, BOI-BNC-BASE-40-60-50-20, personal social security contributions of liberal professions (unlimited deduction of mandatory old-age and disability-death insurance contributions, article 154 bis of the General Tax Code): bofip.impots.gouv.fr
- BOFiP, BOI-IR-LIQ-20-10, income tax scale (law no. 2026-103 of finance for 2026, article 4): bofip.impots.gouv.fr
- BOFiP, BOI-IR-BASE-20-50-20, limits on deduction of retirement savings contributions (ceiling of €4,710 to €37,680 in 2026): bofip.impots.gouv.fr
- Annual Social Security ceiling: €47,100 in 2025, €48,060 in 2026.
