Prime Minister Elizabeth Borne is scheduled to unveil Emmanuel Macron’s cornerstone reform later on Tuesday. The government argues the system is currently financially unsustainable and will need more contributions going forward. In this show, we look at what Borne’s key measures are (raising retirement age, ending specialised pension schemes) and check whether or not the system is as unsustainable as the government says it is.

🔔 Subscribe to France 24 now:
🔴 LIVE – Watch FRANCE 24 English 24/7 here:

🌍 Read the latest International News and Top Stories:

Like us on Facebook:
Follow us on Twitter:
Discover the news in pictures on Instagram: …(read more)

LEARN MORE ABOUT: Retirement Pension Plans

REVEALED: Best Investment During Inflation

HOW TO INVEST IN GOLD: Gold IRA Investing

HOW TO INVEST IN SILVER: Silver IRA Investing

The French Government Presents Pension Reform Plans, Including Raising Retirement Age

The French pension system has long been a topic of discussion and debate, given the country’s aging population and the financial strain it places on the government. In an effort to address these concerns, the French government has recently presented its pension reform plans, which include raising the retirement age.

One of the key proposals is raising the legal retirement age from 62 to 64, a move that has sparked criticism and protests across the country. The government argues that increasing the retirement age is necessary to ensure the sustainability of the pension system, given the longer life expectancy in France and the strain it puts on public finances.

President Emmanuel Macron has defended the proposed changes, stating that they are crucial to guarantee the pension system’s long-term viability. He argues that raising the retirement age is a fair and reasonable measure in light of the demographic and economic challenges facing the country.

However, many citizens and labor unions are strongly opposed to the reform plans. They argue that increasing the retirement age penalizes workers and disregards the physical demands and inequalities faced by different professions. Critics also assert that the proposed changes will disproportionately affect those in physically demanding jobs, such as construction workers or nurses, who may not be able to work until they are 64.

Another contentious aspect of the reform plans is the introduction of a “pivot age” of 64. This means that workers could still retire at 62, but they would receive a lower pension if they do so. The government argues that this is a way to encourage people to stay in the workforce for longer, while also providing an option for those who are unable to continue working until the new retirement age.

In addition to raising the retirement age, the government is also considering other measures to ensure the sustainability of the pension system. This includes merging the existing 42 different pension schemes into a single system, which would create a more equitable and transparent system for all workers regardless of their profession.

The proposed reforms have sparked widespread debate and protests across the country. Many unions and workers have gone on strike to voice their opposition to the changes, leading to transportation disruptions and other public services being affected. Some argue that the government should focus on other measures, such as increasing contributions or reducing benefits for higher-income earners, rather than solely relying on raising the retirement age.

As the debate continues, the government is facing the challenge of finding a balance between the financial sustainability of the pension system and addressing the concerns of the population. The proposed reforms aim to create a fairer and more sustainable system, but it remains to be seen whether they will be accepted by the public and successfully implemented.

The pension reform plans in France, including raising the retirement age, are part of a broader effort to ensure the long-term viability of the pension system. While the proposals have generated significant controversy and opposition, the government argues that they are necessary to address the demographic and financial challenges facing the country. As the debate unfolds, the future of the French pension system hangs in the balance, with both sides striving to find a resolution that is fair and sustainable for all.