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4h ago

At 80, France’s Sécurité Sociale Confronts Worsening Deficits, Aging Pressures, and a Renewed Political Clash

Fresh warnings over soaring deficits intensify a fight over the pay‑as‑you‑go system’s future.

Des citoyens manifestent lors de la journée nationale d’action pou rla défense de la sécurité sociale, le 13 mai 1980.
La Sécurité sociale souffle ses 80 bougies, le 4 octobre 2025.
L’économiste Maxime Sbaihi dénonce l’aveuglement de notre société qui n’a pas vu venir le déséquilibre croissant entre actifs et retraités. (Illustration : une carte vitale)
Gwenaëlle, mère célibataire de deux enfants. Saint-Péray, le 27 août 2025.

Overview

  • Created in 1945, the universally popular system marks its 80th anniversary as debate over its direction intensifies.
  • France’s audit office warns of a liquidity risk as social‑security deficits deepen, with cumulative debt near €300 billion and the Cades payoff horizon pushed to 2033.
  • An aging population and falling fertility strain the pay‑as‑you‑go model, leaving fewer workers to finance more retirees and heightening long‑term care needs.
  • Analyses highlight intergenerational inequities, with younger cohorts paying more and working longer for lower pension returns than baby boomers and retirees’ incomes now matching workers’ levels.
  • Left‑leaning parties, unions and historians urge a return to the founding solidarity and even wider coverage, while government allies and employers emphasize tighter spending and alternative financing.