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Sunday, January 29, 2023

Work: France wants to raise the retirement age to 64

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According to the government, the French pension system is not financed. During his first term in office, President Macron wanted to reform the pension system – now he is daring to try again.

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With a controversial reform, the French government wants to gradually raise the retirement age by two years to 64. As Prime Minister Élisabeth Borne said in Paris, the age limit should increase by three months a year and reach 64 in 2030.

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There should be exceptions, for example for people with health problems and an early start in working life. She described the plan of the center government under Head of State Emmanuel Macron as a plan for balance, justice and social progress.

Currently, the retirement age in France is 62 years. Those who have not paid in long enough at that age to be entitled to a full pension can sometimes work longer. At the age of 67, the full pension entitlement applies regardless of the payment period – the government wants to keep this, but the number of payment years required beforehand is to increase faster than previously planned.

Individual pension schemes with privileges exist in France for some occupational groups. Borne announced that he wanted to abolish most of them. The government wants to increase the minimum pension to around 1,200 euros a month.

Macron and the government have to fight on two fronts

The government justified its actions with the fact that the French pension system is not financed in the long term. Economy Minister Bruno Le Maire said the current system would have accumulated a deficit of 13.5 billion euros by 2030.

During his first term in office, President Macron wanted to reform the pension system. For months, people demonstrated against his flagship project. The reform passed parliament, but was postponed due to the corona pandemic.

In order for the reform not to fail a second time, Macron and the government must fight on two fronts. In the National Assembly, in which they no longer hold an absolute majority since the parliamentary elections in June, they are hoping for the approval of the conservatives. At the same time, huge protests could again threaten.

Source: Stern

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