French Authorities Decided to Raise the Age for Receiving a Full Pension
OREANDA-NEWS. The official retirement age of 62 years in France will not be changed, but the country will introduce the so called equilibrium age by 2025, after which the major part of pension payments will begin. This was announced by French Prime Minister Edouard Philippe.
“Above the statutory age, we have established the age of equilibrium: 64 years. This will be the average retirement age for employees in five years,” the head of the government said.
Philippe confirmed plans for a gradual transition to a single pension regime instead of the existing 42 systems. This means the abolition of a number of privileges for representatives of certain professions – the ability to retire earlier or receive increased payments. According to the prime minister, the minimum pension for those who have worked full time will be 1 thousand euros.
Pensions will be calculated according to the points system, the significance of which will be determined by the parliament. “A golden rule will be laid down in the law, according to which the value of a point will not be reduced,” Philippe stated. He also added that the pension will be indexed not by inflation rate, but by the level of wages of working citizens. Pension reform will not affect the French born before 1975.
According to Philippe, the parliament may consider the reform in February 2020.A nationwide strike against pension reform in France began on December 5. According to the Ministry of Internal Affairs, about 800 thousand people in more than 70 cities took part in the protests that day. Strikes led to the stoppage of more than 80 % of trains and the Paris metro. On December 10, there was the second large-scale action. The main organizers are the leading trade unions of France, including the General Confederation of Labor – Workers’ Force.