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3mo ago

France Begins Three-Month Negotiations on Pension Reform

Talks between unions, employers, and the government aim to address funding deficits and controversial retirement age changes.

S’ils décrochent un accord partiel ou total, le texte sera soumis au Parlement, a assuré le premier ministre.
Le Premier ministre François Bayrou, Pierre Moscovici de la Cour des comptes, et les ministres Astrid Panosyan-Bouvet et Catherine Vautrin, à l'Hôtel Matignon à Paris, le 20 février 2025.
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Overview

  • The negotiations, starting Thursday, will focus on amending the 2023 pension reform, which raised the retirement age from 62 to 64.
  • The government has tasked unions and employers with finding solutions to stabilize the pension system's finances without worsening its deficit.
  • The Cour des Comptes forecasts a pension system deficit of €6.6 billion in 2025, growing to €30 billion by 2045 if no further reforms are made.
  • Unions demand a return to the retirement age of 62, citing alternative funding methods, while employers reject this, warning of severe financial consequences.
  • The government, despite pledging not to interfere, has suggested measures like partial capitalization and indexing retirement age to life expectancy.