Macron proposes raising retirement age to 65

It’s now official: Emmanuel Macron wants to raise the legal retirement age from 62 to 65 if he wins the presidential election. Gabriel Attal, the spokesman for the government, said on RTL on Thursday, March 10, confirming the information provided by the newspaper the day before. the echoes† This is’“responsibility reform” and “of justice”begged Mr Attal, insisting “choice of society” which will be presented to voters: “Do we still want to be able to finance and invest protection for the French? we say yeshe launched. Do we think we should do it by raising taxes? We say no. And so you have to work harder. †

The fact that such a measure is being unveiled comes as no surprise, as the head of state had already expressed this intention during his televised speech on November 9, 2021. Likewise, during his candidacy statement, on March 3, in his letter to French, the tenant of the Elysée had already written: “We will have to work more and continue to lower taxes on labor and production. † A way to show his determination to restart a project he had suspended in March 2020 due to the health crisis, before announcing his shutdown a year and a half later.

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But Mr Macron’s approach today is different from the project he had championed during the first half of his mandate. At the time, the aim was to converge the 40 existing schemes into a universal system, without questioning the 62-year rule, but by establishing a pivotal age from which the insured would be entitled to a full pension.

The pattern now emerging is both simpler and more radical. In the long run it will be necessary to wait for his 65and birthday to exercise his pension rights. The increase will be gradual, at a rate of four months per year of birth (62 years and four months for the first affected generation, 62 years and eight months for the second, etc.). In total, the process should last until 2033. Exemptions will be maintained in various situations: people who started working early, incapacity for work, incapacity for work, etc. For these categories, the eligibility age must be 62, compared to the current 60 year.

Financing social measures

The stated aim is twofold. Mr Macron first wants to ensure the financial sustainability of the pension system, whose deficit was €13 billion in 2020, with a return to equilibrium not expected before the first half of the 2030s, d after the latest projections from the Pensions Guidance Council. By raising the age of eligibility to 65, the “presidential candidate” expects to save up to 15 billion euros in pension spending by 2030. This windfall would be used to consolidate schemes, fund social measures and provide budgetary relief in other sectors of the welfare state. Mr Macron also plans to bring France closer to European standards: in several countries, such as Italy, the United Kingdom or Germany, the retirement age is between 65 and 67 years.

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