French President Emmanuel Macron’s pensions reform was officially promulgated into law on Saturday following approval from the constitutional court, as unions vow to oppose the controversial changes including raising the retirement age from 62 to 64.
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On February 18, 2020, French President Emmanuel Macron signed a controversial pension reform bill into law overnight. Despite widespread protests and strikes against the bill, Macron’s government maintained that the reform was necessary to ensure the sustainability of the pension system and address inequalities.
The pension reform bill replaces the current system of 42 different pension plans with a universal points-based system, where all workers will accrue points throughout their careers and be entitled to a standard retirement income based on their total points. This will end the special pension schemes enjoyed by some professions, such as railway workers and Paris metro drivers.
The government argues that the new system will be fairer, more transparent and more financially sustainable in the long term. However, opponents of the reform say that it will lead to workers having to work longer and receive lower pensions, particularly those in physically demanding jobs such as transport and healthcare workers.
The reform has been met with widespread protests and strikes, particularly from transport workers who have disrupted rail and metro services across the country for weeks. The strikes have caused significant disruption to the economy and public services, with schools and hospitals also affected.
Despite the strong opposition, Macron’s government has stood firm in its commitment to the reform, arguing that it is necessary to address the country’s current pension system deficit, which they say will reach €17 billion by 2025 if no action is taken.
The signing of the bill into law is a significant win for Macron, who has faced intense criticism and opposition from unions and the public since he first announced the reform in December 2019. However, the government’s handling of the protests and strikes has also been criticised, particularly in relation to police violence against demonstrators.
The long-term impact of the pension reform remains to be seen, and it is likely that protests and strikes will continue in the coming months. However, with the bill now signed into law, Macron’s government will move ahead with the implementation of the new pension system.
The retirement age in some developed countries is even more than 64. People want to work less and get paid more. Unfortunately, it can't be like that in today's world.
The French are spoiled. Now they get a retirement age of 64. In Denmark, it is currently 67 and will rise over the years to 70.
Why? Because too few children are born and people live longer.
Do the French have money trees from which they can pluck money; or have they lost basic knowledge of where money comes from?
64 years. Luxury.
Also reform e shram pension of india
The government is always right and thus,
any decisions made in the past (say Lockdowns) obviously have no bearing as to cause for the need to increase the retirement age..
Having to work until 64 is very reasonable. HOWEVER the way Herr Macron pushed through this legislation is totally unacceptable in a democracy. If the French constitution allows him to do things like this then it urgently needs to be amended.
So democratic
the issue not pension reform per say but the whole France economics French decided to fund unwinnable war by any metrics and the US made it worse by raising interest rate to fight inflation on top of that France anti immigrant policy which is whether you like it or not it save the government lots of money by not spend on them to the age of 18 so be thankful if this is the end of it but unfortunately this is the start of hardship the war is not over and the climate is getting worse
No democracy
No human rights
No peace
Dictator Macron
France is a marianette these days and I'll leave iit there
Help me understand. If you started working at age 35, there is no way to receive a full pension?
Also you had to work 38 years before this bill, and now 40 years before you can enjoy a 100% pension?
Is there no general state pension? Like in the Netherlands everybody gets a pension at age 67,regardless if you have worked or not. It's not much, but kinda enough to keep you going.
No democracy only might is right shame
Shame Shame
Macrantionette
As much as I don't care about france this is coming to a town near you
i don't Macron – of his anti-US rhetoric! supposed bond not loose it! i wish people vote him out!
Excellent. Good life has ended. Keep on voting
Brilliant. Let them eat cake.
EUs Core-6 can not unite further if France has
a.) a widely differing pension system and
b.) looses against demographics while providing medical service that lets everyone live "forever"
(… if you die 5 to 8 years after your pension age AGAIN then we might turn the pension age down again)
merci beaucoup M. le Président
The Emperor has nice clothes, a golden and bejeweled watch, with a plent of cake for his supporters. A memorable vision of French history today.
So all that protesting accomplished NOTHING? The French govt doesn't care about its people and the people aren't being heard. When enormous and widespread protests are ignored by the govt the French people must put in a govt that will listen and that won't happen with their current methods.
In today's democratic world, if a politician is soft on China, their career is over.
This is on France…you KNEW Macron was a global elitist…
Democracy is dead.
I love France but this although unpalatable is needed to be passed into law , one needs too protect the pensions overall.
Macron is the only adult in the room. Some of the French people are acting like children that their parents said they can't have something. Tantrums galore! I am glad I live in a country with intelligent adults and not France. If you don't like the actions of a government you deal with it at the ballot box. Not by tantrums.
The Elites do what they are told.
From america.thank you for your channel!