Unpopular proposals to increase the retirement age to 64 are supported by a leading French court.
April 15, 2023Tweet
France's pension reforms have come into law, a day after the country's top court approved the government's unpopular plans to raise the age of retirement by two years to 64. The decision marked a huge win for President Emmanuel Macron in the face of mass protests across the country. The Constitutional Council struck down some elements of the new law, but the most controversial element remains: the gradual upping of the retirement age. The French government has said the reform is necessary to keep the pension system's finances out of the red in the coming years. Opposition parties have signaled they will fight on against the plans, with Jean-Luc Mélenchon and Marine Le Pen urging those who oppose the changes to vote for her at the next election.
Even with the changes, France's new retirement age will still be below the norm in Europe and in many other developed economies, where the age at which full pension benefits apply is 65 and is increasingly moving towards 67. France's pension reforms have come into law, a day after the country's top court approved the government's unpopular plans to raise the age of retirement by two years to 64. The decision marked a huge win for President Emmanuel Macron in the face of mass protests across the country. The Constitutional Council struck down some elements of the new law, but the most controversial element remains: the gradual upping of the retirement age. The French government has said the reform is necessary to keep the pension system's finances out of the red in the coming years.
Opposition parties have signaled they will fight on against the plans, with Jean-Luc Mélenchon and Marine Le Pen urging those who oppose the changes to vote for her at the next election. Even with the changes, France's new retirement age will still be below the norm in Europe and in many other developed economies, where the age at which full pension benefits apply is 65 and is increasingly moving towards 67.