France seeks to delay retirement age to 64

A bill introduced by the government of Emmanuel Macron poses delay the retirement age France from 62 to 64 years, something that the unions and the opposition have already rejected.

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.

In a press conference, Prime Minister Elisabeth Borne declared: “With a legal retirement age of 64 from 2030 and 43 years of contributions, we will achieve the goal: our redistributive system will then reach equilibrium.”

The number of retirees in France is increasing compared to active workers, who are the ones who pay the pensions of the former. In addition, life expectancy has also increased to 85.5 years in women and 79.4 in men.

“Starting in 2023, this system will register a deficit. From 2027 it will be 12.5 billion euros (13.43 billion dollars) per year, 15 billion in 2030, 25 billion in 2040,” Labor Minister Olivier Dussopt said.

However, the prime minister assured that there would be exceptions to the 64-year rule. Those who started working before the age of 20 will be able to retire between 58 and 62; military, firefighters or police officers may also retire earlier.

The reform would reach the Assembly at the end of January, after its approval by the council of ministers on January 23, for a debate by the plenary session at the beginning of February.

Although the delay in the retirement age will be less than the 65 years defended by Macron, the plan has already garnered the unanimous rejection of the unions, who announced a first day of general strike and mobilization on Thursday, January 19. (YO)