to increase retirement age in France from 62 to 64 years is the unpopular decision the president made Emmanuel Macron and that has led to several waves of protests in the European country. Despite the three months of protest that weighed on Franica, Macron does not shy away from the pension reform and ensures that it is “necessary” to avoid an economic deficit.

The French president, supported by Prime Minister Elisabeth Borne, announced the bill in January. In addition to postponing the minimum retirement age, the pension reform also provides brought forward to 2027 the requirement to have contributed for 43 years to receive a full pensioninstead of 2035.

In a press conference, Borne stated: “With a statutory retirement age of 64 from 2030 and 43 years of contributions, we will reach the target: our redistribution system will then reach equilibrium.”

French president approves pension reform without a vote of deputies

The pension system in France today allows people over 62 to retire after making a certain number of quarterly payments. Those who retire between the ages of 65 and 67 can do so regardless of the number of quarters they have contributed.

Workers can also retire before the age of 60, provided they prove a minimum contribution period and started work very young.

The Minister of Labour, Olivier Dussopt, explained that “from 2023 this system will record a deficit. From 2027, it will be 12,500 million euros ($13,430 million) per year, 15,000 million in 2030, 25,000 million in 2040,” as the number of pensioners in France increases compared to active workers, who pay the pensions of the former.

“The pension reform is passed with the rejection of the motions of censure. We are focused on its implementation, in the best conditions for the insured,” Dussopt wrote on Twitter.

Life expectancy in France

Another basis for the pension reform is that life expectancy has also increased to 85.5 years for women and 79.4 years for men.

According to the OECD, Better Life Index, life expectancy at birth in France is about 83 years, two years older than the OECD average of 81 years. Life expectancy for women is 86 years, compared to 80 years for men.

On the other hand, about 65% of people aged 15 to 64 in France are in paid employment, less than the OECD average of 66%. About 68% of men have paid work, compared to 62% of women.