In France, active workers pay the pensions of retirees, whose percentage is increasing compared to the former as life expectancy increases: 85.5 years for women and 79.4 for men.
“From 2023, this system will register a deficit. From 2027 it will be 12.5 billion euros per year, 15 billion in 2030, 25 billion in 2040,” Labor Minister Olivier Dussopt said on France Info radio.
Some analysts fear an outbreak of popular anger like those led by the “yellow vests”, which affected the first term of Macron, whom they labeled as the “President of the rich”.
In his New Year’s speech, Macron defended that the reform seeks to balance the pension fund, which would register a deficit due to the increase in life expectancy, and protect its redistributive system.
To calm things down, Borne mentioned exceptions: those who started working before the age of 20 may retire between 58 and 62; military, firefighters or police officers may also retire earlier.
Although some analysts fear an outbreak of popular anger like those led by the “yellow vests”, which affected the first term of Macron, whom they labeled as the “President of the rich”.
Although the delay in the retirement age will be less than the 65 years defended by President Emmanuel Macron, the plan already has the unanimous rejection of the unions, which planned an imminent meeting to set a date for mobilization this month.
In addition to the delay of the age to 64 years, the Government also plans to advance to 2027 the requirement of having 43 years of contributions to collect a full pension, instead of 2035, as stipulated in a Law approved in 2014 by the socialist Francois Hollande.
The retirement age in the second economy of the European Union (EU) is one of the lowest in Europe and, if the reform goes ahead, France would approach the 67 years adopted in Germany or Italy.
Despite being a reality in neighboring countries, a majority of French people reject a delay in the retirement age: almost two thirds, 68%, oppose having to retire from 64 years of ageaccording to a survey by the Ifop-Fiducial consultancy.
Source: Ambito
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